Today’s word is "fungible"

Though our example takes the concept to a whole new level.

“General Motors used bailout money to pay back the federal government.”
RTWT: Borrowing from Peter To Pay . . . uh, Peter

Government Motors took lots of money from your left pocket. Then it took some more from your right pocket and put that into your left pocket. GM even added interest taken from your children’s pockets, and has been bragging about it in TV ads.

Now, don’t you feel better? You’ve been paying the general government to administer this loan, and they’ve gotten results.

It’s just like the misleading ads from the bank formerly known as GMAC.