House Democrats Eye Bailout Money for Jobs Package

[babylonsister]

House Democrats Eye Bailout Money for Jobs Package


Top House Democratic leaders, admitting that voters will judge Democrats in next year’s elections largely on the nation’s unemployment rate, said Thursday they plan action on limited jobs legislation this month but will put off a more comprehensive effort until Congress returns in January.

Speaker Nancy Pelosi , D-Calif., said Thursday she wants whatever jobs legislation Congress passes this year or early in 2010 to be paid for with unused funds from the Troubled Asset Relief Program (TARP) created last year to bail out the financial sector.

“TARP funds would be a good source of funds for programs to create jobs,” she said, referring to unused portions of the $700 billion fund. Not all the money has been spent, and some is being repaid by recipients — along with interest on the aid. Bank of America, for example, has just reached a deal to repay $45 billion.

House Majority Leader Steny H. Hoyer , D-Md., conceding that Americans have “a lot of angst, anger and fear” over the economy, said Thursday that creating jobs will be Congress’ top priority next year.

“We have to focus like a laser on creating jobs,” Hoyer told reporters as President Obama convened a jobs and economic growth summit at the White House.

more...

http://www.cqpolitics.com/wmspage.cfm?parm1=5&docID=cqmidday-000003258235

[Political Heretic]

1. Imagine that. Doing what they should have done from DAY FUCKING ONE

Some of us were screaming this while trickle-down democrats were busy crafting the continuation and expansion of the Wall Street giveaway.

Now suddenly, when that approach has predictably come up short, they say, "hey, maybe we should focus on jobs, with the belief that getting people employed will have benefits that trickle-UP."

[redqueen]

2. Good...

that's exactly what I hoped they'd use that money for.

[Bleacher Creature]

3. This is called "getting it." Good for Pelosi.

I'm not sure I've heard a better idea all day.