About $328 billion is left in the $700 billion Troubled Asset Relief Program created by Congress last year to "bail out" troubled financial institutions. It should come as no surprise to you that liberals in Congress want to find ways to spend the money, whether it is needed to help the economy or not.
Conservative lawmakers have suggested the leftover TARP funds should be used to put a dent in the nation's $11.5 trillion debt. That - or tax relief - sounds like an excellent idea to us.
Treasury Secretary Timothy Geithner wants Congress to give him unspecified "headroom" to spend the cash, if he thinks it is needed to help the economy. We have a better idea: Pay down the debt - or, again, use the money for tax relief. Rest assured that if Congress can find any excuse to spend that much in the future, new enabling legislation can be passed.
