RSC Republican Study Committee

Washington, Dec 11, 2009 - Republican Study Committee Chairman Tom Price (R-GA) issued the following statement regarding the Obama administration’s decision to extend the $700 billion TARP slush fund until October 2010.

“The $700 billion bailout was taken from taxpayers last year as a loan, and it’s time the government makes good on its debt,” said Chairman Price. “The Obama administration’s decision to keep this slush fund in operation shows just how little attention they’re paying to the American public. The American people don’t want to use TARP to take over another car company, bailout another bank, or finance another failed ‘stimulus’ package. They just want their $700 billion back. The TARP has distorted our markets, delayed our recovery, and disfigured our basic economic system. Its permanent termination would do great help to provide the stability that our markets desperately need. With the Democrats’ track record of spending, I fear that if we cannot bring TARP to a close now, this administration may never be willing to let it go.”

###

Congressman Tom Price is Chairman of the Republican Study Committee (RSC).