 In accounting, the term "slush fund" describes a general ledger account of commingled funds to which all manner of transactions can be posted, with debits and credits cancelling each other.Richard Nixon's "Checkers speech" of 1952 was a somewhat successful effort to dispel a scandal concerning a slush fund of campaign contributions.Years later, Nixon's presidential re-election campaign used slush funds to buy the silence of the "White House Plumbers".