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US Treasury Secretary Henry Paulson Tuesday ruled out using the 700-billion dollar financial bailout to shore up the battered economy, amid distress calls for help from the ailing auto industry....

"The rescue package was not intended to be an economic stimulus or an economic recovery package; it was intended to shore up the foundation of our economy by stabilizing the financial system, and it is unrealistic to expect it to reverse the damage that had already been inflicted by the severity of the crisis," he said.

[From The Raw Story | Paulson rules out using US financial aid to help economy]