Administration to slash bailout cost estimate

President Barack Obama speaks in the East Room of the White House in Washington Sunday, Dec. 6, 2009, at an event to honor the Kennedy Center honorees. (AP Photo/Alex Brandon) (AP Photo/Alex Brandon)

December 7, 2009 5:52:50 AM PST
The Obama administration will lose $200 billion less than expected from the federal bailout program and is looking at using part of the savings to fund new job creation efforts.