Barack Obama, President of the United States of America, has said that the unspent funds from the bailout for the financial industry may be used to accelerate the growth of jobs in the country.

The President is going to deliver a speech on Tuesday focusing on methods to create jobs, and has hinted that some part of the unspent or paid back billions of dollars to the TARP may be diverted towards accelerating job growth.

Addressing reporters at the White House, he said “TARP has turned out to be much cheaper than we had expected although not cheap”. He added that some of the money may be directed towards reducing deficit and some of it may be lent to small businesses to make sure that the job growth rate picks up.

The US economy has slowly started to recover and this prospect of using the leftover funds from the Troubled Asset Relief Program (TARP) could prove to be beneficial for the job sector.

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