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Shalersville, Richfield towers are links to 1949 cross-country marathon
American soldier killed in Iraq
Researcher says she found text on Shroud of Turin
Ohio native takes second place on 'Project Runway'
White House at odds with bishops over abortion
End of an era: Oprah ending show after 25 years
Kin want right to sue after man assumed dead
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Police accuse bank robbery suspect of gobbling up note (with dashcam video)
Victim of beating in Kent last week is declared dead at Akron hospital
Dad accused of forcing son into field, killing him
Can DNA tests free ex-Akron captain?
Man found dead in North Akron home is identified
Browns' roster nearly devoid of consistent players
Coventry man killed in crash at I-77 ramp
Does it work? Test team returns to try out new products advertised on television
Review: You've never seen 'Sound of Music' like this
College student mistaken for deer, shot to death
NFL star Chris Spielman's wife loses cancer battle
Blogs:
Pets:
Cat-loving chihuahua suckles seven abandoned kittens
The Heldenfiles:
Friday Night Notebook
Patrick McManamon:
Browns vs. Lions live …
Akron Zips:
Akron trounces Howard to reach .500
Tribe Matters:
Seven players added to Tribe’s 40-man roster
Cleveland Browns:
Robiskie, Harrison inactive
Kent State Sports:
Kent State blown out in second half, loses to Temple 47-13
Cleveland Cavaliers:
Gameblog: Cavs vs. Philadelphia 76ers
Buckeye Blogging:
OSU – Michigan college football rivals meet in Baghdad
Varsity Letters:
Four area football teams play tonight
All Da King's Men:
The Sunday Sanity Challenge
Blog of Mass Destruction:
Will Health Care Reform Pass?
Akron Law Café:
Health Care Financing Reform: (69) The Brookings Institute Study on "Bending the Curve" – Four General Strategies
See Jane Style:
Vintage Chic
Car Chase:
TIME TO GET YOUR COLLECTOR CARS WINTERIZED
Let's Talk Real Estate:
Silverdome Potentially SOLD!
Ohio Travels with Betty:
George is looking for a Thanksgiving buffet in Akron.
Sound Check:
Steely Dan Plays "The Royal Scam" at E.J. Thomas Hall
HRLite House:
A Random Rant on Testing
Akron Gamer:
Nintendo's Mario endures even as games come and go
By Martin Crutsinger
Associated Press
POSTED: 02:02 p.m. EST, Jan 06, 2009
WASHINGTON: The government estimated today that it will spend $6.5 million by the end of January in salaries and other administrative costs for the $700 billion financial rescue program.
The Treasury Department estimate was part of the latest update it's required to provide Congress on the operation of the largest government bailout effort in history.
Treasury projected that it would spend nearly $1.2 million on salaries through the end of January and more than $5.3 million on other expenses. The biggest expense category was for ''other services,'' which amounted to nearly $5 million.
The report said Treasury expected to have made obligations totaling nearly $26.6 million by the end of January with the biggest part of that being more than $24.4 million for ''other services,'' which covers the contracts the department has awarded to accounting and law firms to help administer the program.
The new report, which updates the activities in the rescue program since the first accounting was provided to Congress on Dec. 5, provided details on the emergency loans that the Bush administration decided to provide to the auto industry from the bailout program after Congress was unable to pass legislation to help the automakers.
The Bush administration announced that it would lend $17.4 billion to General Motors Corp. and Chrysler LLC in an effort to buy them time to reorganize and avoid having to file for bankruptcy.
Treasury Secretary Henry Paulson has said that with the auto loans, the administration has obligated the first half of the $700 billion rescue program and he has called on Congress to authorize use of the second $350 billion.
However, the administration said Monday that it has not yet submitted to Congress a report required by law that would spell out how the second $350 billion would be used.
WASHINGTON: The government estimated today that it will spend $6.5 million by the end of January in salaries and other administrative costs for the $700 billion financial rescue program.
The Treasury Department estimate was part of the latest update it's required to provide Congress on the operation of the largest government bailout effort in history.
Treasury projected that it would spend nearly $1.2 million on salaries through the end of January and more than $5.3 million on other expenses. The biggest expense category was for ''other services,'' which amounted to nearly $5 million.
The report said Treasury expected to have made obligations totaling nearly $26.6 million by the end of January with the biggest part of that being more than $24.4 million for ''other services,'' which covers the contracts the department has awarded to accounting and law firms to help administer the program.
The new report, which updates the activities in the rescue program since the first accounting was provided to Congress on Dec. 5, provided details on the emergency loans that the Bush administration decided to provide to the auto industry from the bailout program after Congress was unable to pass legislation to help the automakers.
The Bush administration announced that it would lend $17.4 billion to General Motors Corp. and Chrysler LLC in an effort to buy them time to reorganize and avoid having to file for bankruptcy.
Treasury Secretary Henry Paulson has said that with the auto loans, the administration has obligated the first half of the $700 billion rescue program and he has called on Congress to authorize use of the second $350 billion.
However, the administration said Monday that it has not yet submitted to Congress a report required by law that would spell out how the second $350 billion would be used.
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