Word: new
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Dates: during 2000-2009
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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 gives us a chance to pay down the deficit faster than we thought possible and to shift funds that would have gone to help the banks on Wall Street to help create jobs on Main Street," he said...
...broad strokes, Obama set out a framework for using more federal money to create jobs. In addition to the infrastructure piece, which aides said could cost as much as $50 billion, Obama proposed new incentives for consumers who retrofit their homes (a program some have already dubbed Cash for Caulkers), an elimination of the capital-gains tax for small businesses and extensions of several other programs from the last stimulus to help small businesses. He also said he would instruct the Treasury Department to use funds that have already been appropriated to increase the flow of credit to small businesses...
...briefing call with reporters before the speech, a senior Administration official said that even though the unspent and returned TARP funds could not be used directly to fund the new stimulus efforts, they still created an environment in which there was "more fiscal room" for further spending. "There's other offsets over a 10-year period that one could consider as well," the official said, without providing any specifics...
...With reporting by Nilanjana Bhowmick / New Delhi...
...embassy has denounced the bill. And the Global Fund's official line on it is that excluding marginalized groups would compromise efforts to stop the spread of AIDS. Fund spokesman Andre Hurst said his organization was working out a new strategy that would allow groups facing discrimination to bypass normal channels and seek funding directly from the body. He had no immediate comment on why fund money went to Langa's Family Life Network...