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Dispatch Agrees with Boehner: Use Bailout Dollars to Reduce Deficit
Posted by Press Office on December 14, 2009 | comments
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Calling the “stimulus” a “failure” in an editorial Sunday, the Columbus Dispatch sided with Congressman Boehner in rebuking Congress for its out-of-control spending and calling for $200 billion in unused bailout dollars to be used for deficit reduction:

“The U.S. deficit for 2009 is $1.4 trillion, nearly three times larger than the previous record deficit, with similar overspending expected annually throughout the next decade. The national debt just passed $12 trillion.

“The best economic goal for the 536 people who guide the federal government is to rein in that debt.”

Last week, Treasury Secretary Timothy Geithner extended the federal financial bailout program – the Troubled Assets Relief Program – until next fall.  In response to growing pressure in the wake of the failure of the first “stimulus” to hold down the unemployment rate, President Obama and Congressional Democrats have indicated that they intend to divert $200 billion of these unused bailout funds to pay for another “stimulus” bill.

House Republicans believe these borrowed dollars should be used to pay down the deficit.  But on Friday, shortly after passing a massive $447 billion omnibus spending bill containing more than 5,200 earmarks and double-digit funding increases to Washington agencies, House Democrats voted down a Republican amendment to direct unused TARP funds to pay down the national debt.  Congressman Boehner released the following statement after the vote:

“Today, House Democrats voted to continue TARP and go right on spending taxpayer dollars with reckless abandon. After a year-long spending spree, out-of-touch Washington Democrats are looking for money in all the wrong places to fund more of the same ‘stimulus’ programs that aren’t working. Not only do Washington Democrats have no exit strategy for TARP, they want to keep the program alive so it can serve as a slush fund to bail out politicians.

"The American people are sick and tired of these open-ended bailouts and all this wasteful Washington spending. Taxpayer money paid back to the government should be used for debt reduction. Only Republicans are offering common-sense proposals to get government out of the bailout business and stop piling debt on our kids and grandkids.”

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