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Burr Statement on the President's Plan to Reassign TARP Money

Statement

Date: Dec. 8, 2009
Issues: Finance and Banking Housing and Property

U.S. Senator Richard Burr (R-North Carolina) made the following statement regarding the President's plan to use bailout money for more wasteful spending.

"The President's announcement today that he would like to use up to $200 billion in TARP funds for more stimulus projects shows just how out of touch this Administration really is. The American people were promised that repaid TARP money would be used to reduce the national debt. Furthermore, the 10% unemployment rate is proof that the promises made about the $800 billion stimulus did not pan out. It is clear the American people do not want the federal government to break even more promises by spending more money on more government waste. Rather than continuing the reckless spending spree and adding to the national debt, Congress and this Administration need to prioritize spending and start making the same difficult decisions that American families are making across the country."


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