Guinta on TARP Vote

Frank Guinta’s campaign issued the following statement today regarding Carol Shea-Porter’s vote on TARP.

FRANK GUINTA ON TODAY’S VOTE TO END ‘TARP’

Carol Shea-Porter voted down an effort to end federal bailout program and put leftover money toward deficit

Manchester, NH – Carol Shea-Porter today voted down an effort by US House Republicans to end the Troubled Asset Relief Program (TARP) and use the leftover funds to reduce the deficit. This comes days after President Barack Obama requested the House agree to approve a left over $150 billion dollars from the TARP fund to go toward a Stimulus 2 spending program. The original TARP law requires any of the leftover or unused funds to be used for deficit reduction.

The President’s proposed Stimulus 2, which Congresswoman Carol Shea-Porter would have to vote on, is cloaked in a title to stimulate jobs—an effort Stimulus 1 was supposed to, yet failed, to achieve. Frank Guinta released the following statement on today’s vote:

“Carol Shea-Porter voted for the disastrous original stimulus bill that failed to create jobs, failed to successfully stimulate the economy and has proved to be an organizational disaster. Today, she voted against sticking to an agreement in the original TARP federal bailout money for banks and Wall Street corporations. That agreement required any leftover taxpayer money be used to pay down our bloated deficit. Mind you this is on the heels of a discussion to raise our debt ceiling because Congress doesn’t have enough money to spend. This has got to stop. Clearly, Congress is addicted to spending. Carol Shea-Porter and her colleagues have maxed out the most platinum of credit cards and are asking for an increase in their credit card limit.”