Dispatch Agrees with Boehner: Use Bailout Dollars to Reduce Deficit
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:
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: