Freedom Line Blog

The $700 billion Troubled Asset Relief Program (TARP) is set to expire on December 31, and approximately $130 billion remains unspent.  Treasury Secretary Timothy Geithner, however, now wants to keep those unspent billions and convert TARP into a permanent federal bureaucracy.

Has this administration no sense of shame or propriety whatsoever?

The TARP program was dishonestly sold to the American people one year ago as a “temporary” intrusion to keep our financial system afloat until the economic seas calmed.  Markets have long-since stabilized as they naturally do, and an enormous portion of TARP funds either remain unspent or were spent in ways totally unrelated to troubled assets.  Independent auditors also remain unable to verify the program’s success, and the Obama Administration and Pelosi/Reid Congress have us hurtling toward unthinkable levels of deficit and debt.  Despite this, but unsurprisingly to anyone with even a modest understanding of how government constantly erodes our individual freedoms, Geithner & Co. seek to make TARP permanent.

Time for another tea party at Geithner’s office.