Huber Supports Senate Conservatives’ Effort to End TARP

By HUBER FOR CONGRESS

Meadville, PA – Congressional candidate Paul Huber today announced his support for legislation introduced in the United States Senate by Sen. John Thune that would prohibit the Treasury Secretary from extending the Troubled Asset Relief Program (TARP) beyond its current December 31, 2009 expiration date.

“The Treasury Department has used the $700 billion TARP bailout as a slush fund to buy interests in financial institutions, insurance firms, and auto companies, while doing nothing to help small businesses,” said Huber. “Just this week, the Treasury Department announced that lending to small businesses by TARP recipients is down by $10.5 billion this year. It’s clear that the Wall Street bailout has not worked. We need policies that will help small businesses on Main Street create jobs.”

On Tuesday, the national debt rose to over $12 trillion for the first time in our nation’s history, nearly equal to our annual Gross Domestic Product.

Huber said, “This level of debt is unsustainable, and all remaining TARP funds that have not been spent should be used to reduce our national debt. Kathy Dahlkemper, Nancy Pelosi, and the rest of the liberals in Congress need to stop the spending binge they have been on for the past year.”

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