I have just learned that President Obama is expected to announce that it is extending the Troubled Asset Relief Program, or TARP, until October 2010. WHAT!? Are you kidding me!? It is clear that spending does not work and history has proven that big spending does not work. So why are we continuing to spend millions of dollars that have not shown any signs of helping the U.S. economy?
“For this President or this Democratic Congress to proposing using TARP funds for anything other than deficit reduction is simply a violation of the law,” Rep. Mike Pence, R-Indiana said.
So my question is … Should we continue to use TARP funding in an effort to create more jobs, or should we use it for deficit reduction?
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