Bailout bill provided slush fund

The American people have been shown time and time again, already, how they were right on not supporting the Emergency Economic Stabilization Act of 2008 (bailout bill) passed in the second attempt back in October.

But congressional members, including Gresham Barrett, R-S.C., did not heed the warnings of the large majority of this district and the rest of America.

Now, when Congress is asked to bail out the Big Three automakers with a $14 billion bill, Republicans blocked its passage in the U.S. Senate. So, what is the response by the Democrats and the White House? "So what? We'll use TARP funds to supply the money that the automakers, especially United Auto Workers, want."

TARP is a slush bailout fund.

When I spoke to an aide of Gresham Barrett's on the phone, the aide confirmed that the Treasury was given working authority over the over $700 billion in taxpayer money with no stipulations. In essence, the U.S. Treasury, by act of Congress, was transferred something that should only be exclusively the Congress' by constitutional authority: the power of the purse.

So now, Congress cannot pass the automaker bailout bill separately, so the Democrats with the help of a now inept White House will take advantage of the poorly worded, poorly constructed, bailout bill and provide the automakers with the funds they are requesting anyway.

The will of the people here was usurped by Congress, having given away their power of the purse in the first place. So now the people have no say.

Congress made a huge mistake in passing the bailout bill.

Now watch as the little piggies all across America go to the federal government's TARP trough. And there is nothing the taxpayers and representatives can do to stop it. What a mess!

Will Tinney

Aiken, SC

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Sat, 12/10/2016 - 22:00

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