The Obama Administration has threatened to veto legislation that begins the process of shutting down the TARP bailout program and saves taxpayers $8 billion – the latest example of the Democrats who run Washington fighting for an unacceptable status quo.
In a “Statement of Administration Policy,” the White House defends its veto threat by arguing the TARP program Republicans aim to eliminate with H.R. 830 is “vital to the Nation’s sustained economic recovery.” How many people have used this “vital” program? 44.
Despite the program’s failure, more than $8 billion in TARP funds have been set aside by the Administration to keep it going. That’s why, as the Washington Post reports, H.R. 830 “would terminate” this TARP program “and put the unused funds toward paying down the deficit.”
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