Will Unused TARP Money be Spent on Job Creation?

President Obama is giving a speech tomorrow in the wake of his job summit in which he is expected to float the idea of using as much as $200 billion in unspent TARP money for job creation. If approved, it will be up to Congress to iron out the details, but Democrat leaders in the House of Representatives have been talking about using $70 billion for infrastructure improvements. Other possible uses for some of the money include small business loans and helping local governments retain police, fire and other first responders. Congressional Republicans are less enthusiastic about the idea, preferring that the unused TARP money be applied to the deficit.