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Sen. Cornyn Calls On President To Restore Fiscal Discipline In Washington

Statement

Date: Dec. 8, 2009
Location: Washington, DC
Issues: Finance and Banking Government Budget and Spending

"TARP should be shut down as soon as possible and any unused funds should be returned to taxpayers"

U.S. Sen. John Cornyn, R-Texas, today issued the following statement regarding the President's proposal to use the so-called savings from the TARP program for yet another stimulus-like slush fund instead of returning it to American taxpayers as promised:

"The President promised the American people that his trillion dollar stimulus bill would keep unemployment below 8%. Now, with unemployment at 10%, the President proposes another special interest slush fund using "savings' from the TARP program. This is absurd. TARP should be shut down as soon as possible and any unused funds should be returned to taxpayers by reducing our $1.4 trillion deficit. If the President truly wants to encourage the private sector to begin hiring, he should restore fiscal discipline in Washington, and abandon job-killing initiatives, including the Reid health care bill, that will increase taxes, spending, and bureaucratic red tape."

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