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Though the President did not offer a cost - estimates on Capitol Hill have put the total bill at anywhere between $75 billion and $200 billion - he did justify the new spending by citing nearly $200 billion in unspent or returned funds from the Troubled Asset Relief Program, or TARP. "This...
Obama tried to make that point in his speech. "There are those who claim we have to choose between paying down our deficits on the one hand, and investing in job creation and economic growth on the other," he said. "This is a false choice." But as pointed as the...
The President's logic is at odds with the initial premise of TARP, which was sold to Congress as a loan program that would be mostly paid back to the Treasury, where its proceeds would be used to pay down the deficit. "The $700 billion program we have proposed is...
Putin's answer was hardly surprising. In 2008, with the constitution barring him from running for a third four-year term, Putin stepped down as President, chose ally Dmitri Medvedev as a successor and then took the post of Prime Minister for himself. Widely regarded as a placeholder President, Medvedev...
Political analysts in Russia say the transition plan is clear. "What they are signaling is that in 2012, they will not compete with each other for the presidency. They will sit down and decide in an orderly fashion which of them will be the next President. If Putin wants it...