The Hollywood Liberal

Obama Says He’ll Spend Some Bailout Money on Homeowners

With half of the $700 billion in TARP funds already spent and not a whole lot to show for it, Barack Obama has pledged to spend the second parcel differently, with at least some of the money going to desperate homeowners. President Bush has agreed to request the funds on Obama’s behalf in order to expedite the process.

AP via Google:

Seeking to reassure wary lawmakers, President-elect Barack Obama said Monday he will fundamentally change the way the second half of the $700 billion financial bailout fund is spent, focusing some of the relief on housing and small businesses.

Obama asked President George W. Bush to submit a request to Congress so that the remaining $350 billion would be available quickly after the inauguration next Tuesday. Bush agreed to do so.

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Bush Gears Up for Farewell Speech

Although it may seem like ages since the election made it official, President Bush really is leaving the White House, and he’s preparing to say goodbye to the American people in a televised speech on Thursday. Judging from this Fox News report, Bush is striking a defiant pose to the end.

Fox News:

White House press secretary Dana Perino said Bush will use the opportunity to reflect on his past eight years in office and discuss the challenges that lie ahead for the next administration.

Speaking at his last press conference before leaving office on Monday, Bush urged President-elect Barack Obama not to fall prey to critics. He discussed his time in office, admitting some aspects “didn’t go according to plan” when it came to the Iraq war but asserting that the United States’ reputation is still strong.

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