Monday, November 17, 2008

Inhofe: Forget Credit Squeeze, Freeze Paulson

U.S. Senator. Jim Inhofe (R-OK) lets go on Treasury Secretary Henry Paulson. He told the Tulsa World:

It is just outrageous that the American people don't know that Congress doesn't know how much money he (Treasury Secretary Henry Paulson) has given away to anyone.

It could be to his friends. It could be to anybody else. We don't know. There is no way of knowing.

He was able to get this authority from Congress predicated on what he was going to do, and then he didn't do it.

I have learned a long time ago. When they come up and say this has to be done and has to be done immediately, there is no other way of doing it, you have to sit back and take a deep breath and nine times out of 10 they are not telling the truth.

And this is one of those nine times.
Inhofe wants to freeze what is left of the initial $350 billion — reportedly $60 billion, but Inhofe concedes he does not know for sure, according to the Tulsa World.

Then he wants a provision requiring an affirmative vote by Congress before Paulson can get his hands on the second $350 billion of bailout money.

Inhofe may be the only member of the Senate who actually understands economics. He told the Tulsa World, with regard to extending unemployment benefits, that, "You don't stimulate the economy by giving away more money."

With regard to an automobile industry bailout, Inhofe said "If we keep on nursing a broken system, then we can't expect to have a different result come later on."

1 comment:

  1. What do we really expect? Congress gave Paulson authority the authority to do as he decides is important. Congress has failed us again just like they did during the run up to war. As usual they are PASSING THE BUCK.