Obama May Use Bailout Money For Jobs

Manufacturing.Net (Crutsinger, Associated Press) - The government will lose $200 billion less than expected from the federal bailout program, and the Obama administration is looking at using part of the savings to pay for new job creation efforts.

Speaking to reporters in the Oval Office, Obama said he would use a speech on the economy on Tuesday to address proposals for what could be done with savings from the rescue program. He said the administration was examining the possibility of shifting some bailout money toward job creation programs. One example, he cited: directing bailout money to help small businesses get the loans they need to expand their operations and hire new workers.