Press Release from House Minority Leader John Boehner
Boehner Statement Opposing the Release of Additional Taxpayer Funds for TARP
GOP Leader: “I remain disappointed about the way TARP has been managed and how its resources have been spent over the last several months.”
Washington, Jan 12 – After President Bush announced that he would request the final $350 billion in Troubled Asset Relief Program (TARP) funds at President-elect Obama’s request, House Republican Leader John Boehner (R-OH) issued the following statement:
“I remain disappointed about the way TARP has been managed and how its resources have been spent over the last several months. From the outset, the program has been implemented with too little transparency and in a manner inconsistent with the way it was presented to Congress last fall. Until officials can present a clear plan to Congress – and, most importantly, to taxpayers – demonstrating how the expenditure of additional TARP funds will benefit our economy and making clear an exit strategy for getting the government back out of the private sector, it would be irresponsible for Congress to release the remainder of these resources. I will oppose the release of these taxpayer funds when the matter is considered on the House floor.”
NOTE: Boehner has written to Treasury Secretary Henry Paulson and Federal Reserve Board Chairman Ben Bernanke on several occasions raising questions about the implementation of TARP. On December 3, 2008, House Republican leaders sent a letter to Secretary Paulson and Chairman Bernanke, outlining concerns about the program’s lack of transparency to date. On October 29, 2008, Boehner wrote to Secretary Paulson expressing his concern with how some of the TARP funds were being utilized.
by Stephen Moore on WSJ-Opinion
‘Atlas Shrugged': From Fiction to Fact in 52 Years
Some years ago when I worked at the libertarian Cato Institute, we used to label any new hire who had not yet read “Atlas Shrugged” a “virgin.” Being conversant in Ayn Rand’s classic novel about the economic carnage caused by big government run amok was practically a job requirement. If only “Atlas” were required reading for every member of Congress and political appointee in the Obama administration. I’m confident that we’d get out of the current financial mess a lot faster.
Many of us who know Rand’s work have noticed that with each passing week, and with each successive bailout plan and economic-stimulus scheme out of Washington, our current politicians are committing the very acts of economic lunacy that “Atlas Shrugged” parodied in 1957, when this 1,000-page novel was first published and became an instant hit.