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End TARP and End the Stimulus

Posted By Conn Carroll On May 18, 2009 @ 1:54 pm In Ongoing Priorities | Comments Disabled

White House Director of the Office of Management and Budget Peter Orszag

Earlier this month the Treasury Department found that all 19 banks subject to government “stress tests” [1] passed. Now this past Sunday, White House Director of the Office of Management and Budget Peter Orszag announced that: “The freefall in the economy seems to have stopped.” [2]

Economic catastrophe was the only rational supporting both the $700 billion TARP and the $787 billion stimulus. Now that the “freefall” is over it is time to repeal TARP [3] and repeal the stimulus.


Article printed from The Foundry: Conservative Policy News from The Heritage Foundation: http://blog.heritage.org

URL to article: http://blog.heritage.org/2009/05/18/end-tarp-and-end-the-stimulus/

URLs in this post:

[1] “stress tests”: http://www.nytimes.com/2009/05/09/business/09markets.html

[2] “The freefall in the economy seems to have stopped.”: http://online.wsj.com/article/SB124256967243827608.html

[3] repeal TARP: http://www.foundry.org/2009/05/07/tarp-and-stress-tests-now-can-banks-return-the-money/

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