Political Quotes

“Mr. President, my amendment is based on bipartisan legislation I introduced earlier this Congress called the Pay It Back Act. I was greatly encouraged at that time by the broad bipartisan support in this body for winding down the TARP, getting serious about deficit reduction, and spurring our economy back to health. As I talk with Coloradans all across my State, I hear the same concerns again and again. People are deeply concerned and worried about the economy. They worry about jobs and they worry about our rising Federal deficit. But mostly they just want a fair shake--a chance to achieve their own vision of success through hard work. That is why they don't understand the behavior of some of our largest financial institutions. They don't understand how these behemoths could have made bad bets, lose billions of dollars, and then be bailed out by the Federal Government. That doesn't make sense to most people in Colorado, and it certainly doesn't make sense to anybody running a business. This pay it back amendment takes a big step forward in our efforts to wind down and eventually end the TARP. It prevents further government spending, recaptures taxpayers' investments in financial institutions, and ensures that repaid funds are used for deficit reduction. It does this in a couple of ways. First, it reduces the TARP's authority by about $150 billion, which will ensure that unused TARP funds are not used for new government spending.…”