Erik Paulsen: “Mr. Speaker, I rise in support of this week's YouCut winner. Mr. Speaker, how long are the American people supposed to…”

“Mr. Speaker, I rise in support of this week's YouCut winner. Mr. Speaker, how long are the American people supposed to wait before this Congress will take action that will positively change the economic prosperity for our citizens? Our country cannot simply continue down its current path of fiscal recklessness. The most recent Congressional Oversight Panel report found that the Troubled Asset Relief Program, the TARP bailout program, has not been effective in meeting its statutory obligations. Last year, I offered legislation that would have repealed the Secretary of the Treasury's ability to extend the TARP bailout program. It would have saved taxpayers hundreds of billions of dollars at that time. I thought, as did many of my colleagues, that there was no reason to continue throwing good many after bad in a program that wasn't working. Unfortunately, and nonetheless, Congress failed to act and the administration extended the TARP program for another 10 months. As of this month, $80 billion in funds have yet to be dispersed. By voting against the previous question today and for this week's YouCut winner, tens of billions of dollars that are now going to programs that do not work, including more taxpayer money for AIG, can be stopped. People are absolutely tired of Washington's bailouts.”