That's what the bill says
"The law is very clear! 'The monies recouped from the TARP shall be paid into the general fund of the treasury for the reduction of the public debt.'"
— PolitiFact National
He's against it, sometimes
On the propriety of budget reconciliation.
U.S. becoming a banana republic?
Obama's budget plan would "take national debt up to about 80 percent of gross national product. ... Historically, it's been about 40 percent."
Not quite, but close
Obama's proposed budget "doubles the debt in five years, triples it in 10 years."
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