Obama doesn't want TARP money returned to tax payers

On Friday April 3, 2009, President Obama refused to allow JPMorgan Chase bank to re-pay the TARP money back to the US Government.

Obama had a meeting with the CEOs of some of the big US banks.

JPMorgan Chase CEO Jamie Dimon insisted that he’d like to give the government’s TARP money back as soon as practical, and asked the president to “streamline” that process.

But Obama didn’t like that idea — arguing that the system still needs government capital.

Several CEOs disagreed, arguing instead that returning TARP money was their patriotic duty, that they didn’t need it anymore, and that publicity surrounding the return would send a positive signal of confidence to the markets.

The president offered an analogy: “This is like a patient who’s on antibiotics,” he said. “Maybe the patient starts feeling better after a couple of days, but you don’t stop taking the medicine until you’ve finished the bottle.” Returning the money too early, the president argued could send a bad signal.

Read the full report here:
http://www.politico.com/news/stories/0409/20871.html

I wonder why Obama thinks he’s so much smarter than the CEOs of some of the largest US banks…?

Obama's Socialist Budget Proposal

Dear Senator Hutchinson,

Please take a stand AGAINST President Obama’s socialist budget proposal.

In his press conference on Tuesday night, the President tried to clarify why massive government spending and saddling America with unprecedented levels of debt are justified. He said that his administration needs to make some "tough budgetary choices", but the overall budget proposal is the largest in the history of the world. He tried to make America think that if his agenda is not passed, there will be "zero growth" in the economy. I don’t believe that, and most of the Texans I know don’t believe that.

Obama’s budget will increase the National Debt $7 trillion over the next 10 years. Under this budget, America will reach the point where it is paying more each year on the interest to the national debt than it is paying for national defense.

We simply can't keep borrowing and borrowing. We can't let Obama take us down the path to socialism.

I want Republicans to come up with a better budget proposal......one that CUTS GOVERNMENT SPENDING.

But in the meantime, we absolutely MUST defeat Obama’s Socialist Budget Proposal...!