Price: "Spending money we do not have on programs that do not work is an insult to American taxpayers."

Statement

House Republican Policy Committee Chairman Tom Price, M.D. (R-GA) issued the following statement on H.R. 839 -- legislation to terminate the failed Home Affordable Modification Program (HAMP).

"Spending money we do not have on programs that do not work is an insult to American taxpayers," said Chairman Price. "The failure of the Home Affordable Modification Program (HAMP) should be enough to convince even Washington Democrats that Congress must bring an end to these costly experiments. They have already done enough harm to our markets and our nation's budget. Having watched Democrats try and fail in their efforts to manipulate the economy, House Republicans are working to rein in federal spending, rollback onerous government mandates, and foster a new level of responsibility in government. Those are efforts that will create certainty in the market and send a positive signal to taxpayers, entrepreneurs, and job creators."

NOTE: The Obama Administration claimed that HAMP would help up to 4 million homeowners. Since February 2009, HAMP has assisted in modifying just 539,493 loans.

Source