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John Thune will introduce a bill to stop the bailouts

November 16, 2009

  Senator John Thune intends to propose a bill tomorrow that would end the TARP fund bailouts. There is still $200 billion in unspent TARP money and his bill would prohibit the tax evading Timothy Geithner from extending the deadline for spending this money beyond the end of the year.

  The fear is that the administration will continue to use this money in a manner that  was never intended.

Thune told POLITICO that he wants to ensure that remaining TARP funds “don’t get used as a political slush fund and are used actually for a purpose that I think most people in the country would support — and that is to pay down the federal debt

  The TARP money was supposed to be used to bailout troubled banks but the Obama administration has used the money to take over some of the banks and automobile industry.

   While I don’t even agree that the money should have been spent for its originally intended purpose I certainly do not agree that it should be spent in such an abusive way. It is time to end the TARP program once and for all. Here is hoping that this Thune bill will have a better outcome than the last amendment that he proposed.

  For those of you who may come here and use the Bush started it defense, let me just say: No shit! I opposed the TARP funds then and I oppose them now. I do find it amusing that Obama supporters are willing to justify Obama’s TARP fund spending by defending a Bush policy however.

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8 Comments leave one →
  1. November 16, 2009 10:19 pm

    I bet a bill like that wouldn’t have a chance, but it does have value in that it is more fuel for 2010. Imagine the constructive things you could do with $200 billion.

    Like

    • November 17, 2009 6:13 am

      It probably won’t go anywhere but I think you are right about 2010. Republicans will be able to say they tried to bring down spending but Democrats wouldn’t let them.

      Like

  2. November 17, 2009 12:41 am

    Good for him.

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    • November 17, 2009 6:13 am

      Hopefully there are more like him!

      Like

  3. LD Jackson permalink
    November 17, 2009 6:33 am

    Have you ever heard John Thune speak? He talks like he actually has a head on his shoulders and uses it for something besides a hat rack. Do you reckon he would be interested in running for President?

    Like

    • November 17, 2009 8:07 pm

      I haven’t heard him speak but I do know that he also introduced a bill that would have made it easier for people who have gun permits in their states to carry their weapons over state lines, that is a postion that I agree with but the amendment was defeated. Other than these two issues I don’t know much else about him.

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  4. November 17, 2009 5:34 pm

    LD , Thune does appear to be a thinker and not some country club republican—his conservative values seem strong. I’ve seen no one mention him for president. Thats so far out its hard to say who will be in the running in 2012. I doubt the Thune bill will have a chance, but he should try. TARP was a failure and the remaining funds will certainly be spent by the Democrats next year to gain favor in the 2010 off year elections.

    Like

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  1. John Thune will introduce a bill to stop the bailouts « America's Watchtower « THE PATRIOT

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