The Department of Housing and Urban Development's HOPE VI program was established in 1992 to provide grants to public housing agencies to enable them to demolish obsolete, distressed or vacant public housing units and provide replacement housing to families displaced by these demolitions. By 2005, HUD noted that the program's goals of demolishing the nation's most dilapidated public housing units had been met, and the Bush administration requested that the program be terminated. Six years later, the program continues to receive funding, even though the Obama administration has now also recommended terminating the program. Unfortunately, the President wants to use the savings to fund another, similar program. Terminating the program and not redirecting the savings to other spending will reduce deficits by $1 billion over the next 10 years.