Boehner: No More Bailout Money

by Sal on January 12, 2009

in Economy,Politics

House Minority Leader John Boenher announced yesterday that he opposes releasing the remaining $350 billion of the TARP Bailout fund unless there is a proven need.

I think until there is a demonstrated need in our economy and a plan to address that need, I think it would be irresponsible for Congress to release the additional money.

The original bailout bill release $350 billion immediately to the Treasury Department to use as it saw fit, and required the remaining $350 billion to be authorized by Congress.  The Democrats, however, want to use some of the remaining money for an Auto-bailout, and will, I’m sure, find other ways to blow the money.

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