Remember the promise???? That these funds when re-paid by the banks would go to reduce the deficit???? That's not happening. Sen. Gregg: President Obama's Budget Proposal Is a 'Disaster' - Greta Van Susteren | On The Record With Greta - FOXNews.com SEN. JUDD GREGG, R-N.H., BUDGET COMMITTEE: The whole concept of the TARP was that as we recoup the money, it would -- because we were borrowing it from our -- from Americans and from the Chinese -- and as we recoup that money, we would use it to pay down the debt. Now that's not going to happen. We're going to -- it's become a piggy bank.