Should Congress be able to spend the TARP funds being paid back by TARP borrowers?
Already confused? Well you should be. This week Pelosi and Reed have struck another blow to American Taxpayers. They want to allow the federal government to take the funds Banks will eventually pay-back to American Taxpayers and help to pay-down the growing US deficit.
What a minute!
Let me get this straight. The Federal Reserve borrows 700 Billion (bascially printing money without having the money in the bank) to fund TARP. Then they bail-out most of the financial institutions on Wall Street. Now they want to take the money the Banks are paying back and spend it on something else.
Are you still with me?
OK ... in the real world when you and I borrow money to buy a car ... when we begin to pay it back ... can we call the bank up and say, "Hey Mr. Bank I want to use the money to pay off my credit card instead" ... You know the answer to that one!
So why does the Government (The Democrats in Power) get to re-invent the rules when it comes to our money?
You know what I think? I think they should put it back in the Treasury ... where they got it from. This is taxpayer money in the first place. They have also used $80 Billion of these funds to bail-out GM and Chrysler.
For those of you who don't see the writing on the wall ... What they are trying to do is pay-down the deficit to atificially reduce the deficit ... so when later in this debocle they vote to increase the deficit ceiling ... which currently is $12 Trillion, it will look like they paid-down the deficit ... when in fact they used borrowed money to accomplish this task. Funny money paying funny money.
The democrats are mortgaging this country and our Lender (The Republic of China) is just buying GOLD and laughing at the falling dollar. Now do you see why O Ba Mao bowed from his waist in Japan and is begging for mercy in China?
What can we do to prevent further distruction to our financial future? In 2010 and 2012 go to the polls and elect US Representatives and US Senators who will stop this madness.
Vote Republican
Gary DeMoss
IN MY RIGHT MIND
