Rush Limbaugh's Morning Update: Unreal
From Rush Limbaugh: 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 government want to pay back the TARP funds as soon as they can to get out from under Obama's thumb. In fact, the hurry to repay the money is so great that the government has already earned over $6 billion in so-called profits.
So you're probably thinking that 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," a 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 to fund a "trust fund" for low-income rental housing. Another $1.5 billion to be distributed to Democrat front groups like ACORN. 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 penny as soon as hits the Treasury's balance sheet.
The brazenness is beyond words. The arrogance surpasses 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.
Read the Background Material on the Morning Update...
• Byron York: Barney Frank -- Let's spend TARP profits before taxpayers can get them
Some of the financial institutions that took bailout money from the government want to pay back the TARP funds as soon as they can to get out from under Obama's thumb. In fact, the hurry to repay the money is so great that the government has already earned over $6 billion in so-called profits.
So you're probably thinking that 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," a 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 to fund a "trust fund" for low-income rental housing. Another $1.5 billion to be distributed to Democrat front groups like ACORN. 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 penny as soon as hits the Treasury's balance sheet.
The brazenness is beyond words. The arrogance surpasses 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.
Read the Background Material on the Morning Update...
• Byron York: Barney Frank -- Let's spend TARP profits before taxpayers can get them
posted by Andy W. Rogers | 9:03 AM
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