Thursday, January 15, 2009

TARP money should not go to financial industry; roll it into economic stimulus package for us

The size of the economic stimulus package trotted out by Congressional Democrats is staggering -- $825 billion.

And they have the audacity to bring forth this monstrosity after the failure of the first half of the $700 billion bailout of the financial industry.

That spending of $350 billion has been a failure, complete and unchallenged. The fact that the financial markets are still around is of little solace when Bank of America and soon Citigroup will be asking for more money than already received.

Despite all this evidence of the bailout's failure, the Senate today approved releasing the next $350 billion to help the same fatcats.


The House should block that release. Instead, pay down some of the economic stimulus price tag lest we print more of our debt in bonds and the Chinese own everything here.

How can we allow our lawmakers to invest our money in proven failure? At the least, spend it on us and let us fail or rise with our own money.

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