Rush’s Morning Update: Unreal
July 3, 2009
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My friends, if you’re driving,pull over. If you’re standing,sit down.
Some of the financial institutions that took bailout money from the governmentwant to pay back the TARP funds as soon as they canto get out from under Obama’s thumb. In fact, thehurry to repay the money is so greatthat the government has already earned over $6 billion in so-called profits.
Soyou’re probably thinking the taxpayer will be getting some money back… and you would be wrong.
Enter one of the architects of the housing disaster– Barney Frank(Democrat, Massachusetts)– who chairs the House Financial Services Committee. Rep. Frank, the Banking Queen,has introduced the “TARP for Main Street Act of 2009.” This isa proposal to snatch the paid-back bailout money– and spend it– before it can be returned to taxpayers.
And guess what he wants to spend the money on? A billion dollars to fund a “trust fund” for low-income rental housing. Another $1.5 billion to be distributed to Democrat front groups likeACORN. Two billion dollars would be handed out to people who haven’t paid their mortgages and are delinquent; another two billion would be thrown to people who haven’t paid their bills and are in foreclosure. The object is to spend every single pennyas soon as hits the Treasury’s balance sheet.
The brazennessis beyond words. The arrogancesurpasses the brazenness. If American voters allow Democrats to keep control of Congress in 2010,the only thing that will trump Democrats’ brazen arrogance, is our own stupidity.
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