GOP leaders are making it clear that they want to see a light at the end of the tunnel for the Troubled Asset Relief Program, or TARP, the $700 billion rescue plan they fear has become an endlessly revolving bailout fund, according to a report in Politico.

The Obama administration wants to hold onto TARP funds repaid to Uncle Sam by recovering banks – for possibly bailing out yet other banks — while the GOP wants those billions to go to paying down the national debt.

And some Republican lawmakers are getting set to force the issue.

Rep. Jeb Hensarling, R-Texas, has introduced a bill that would set a target date to end the TARP program – the Treasury could not divvy out any remaining TARP money after Dec. 31, 2009. Furthermore, the bill would restrict Treasury from refusing to let banks repay their funds.

Hensarling charged that TARP has “morphed into essentially a $700 billion revolving bailout fund where Washington is using its tentacles to essentially control our major auto companies, our major financial institutions, and a major insurance company.”

Meanwhile, Sen. John Thune, R-S.D., has introduced legislation that would require the federal government to end ownership of private firms by July 1, 2010 — and would proscribe any future use of TARP dollars to purchase new ownership shares, according to Politico.

Face Fwd Comments:

Got to tell you, it’s nice to see a Republican that can stand up for anything.  I thought that they had all lost their backbones are became liberal lite.  Of course we need to get out of GM……We never should have gotten in!  I realize that no politician will risk political capital with this much distance between now and the next election but wouldn’t you like to hear just once someone say, “it was a political payoff to the unions and America will suffer because of it”.

I like what I am hearing from John Thune.  Only time will tell if he is just another career politician or if he is really interested in conservative values.

I had a brilliant flash of insight recently.  Besides the obvious reason behind why our representatives don’t like term limits.  The obvious of course is power and money.  Many they have never held another position outside of politics.  It’s not like Mr. Smith is going to return home to go back to his business.  While many are lawyers, most have not practiced law in the traditional sense.  There are a few that have done other things, John McCain comes to mind.  However, when you look at people like President Obama you see someone who has been a career politician, just like the other national politicians.  When you consider these people know nothing of the real world, know nothing of what it takes to earn living, but base their lives on winning a popularity contest, then  you can understand how they are able to make decisions like they made with Chrysler and GM.  They will continue to make the ”Popularity Contest” decisions that they make until we vote them out.  They may never have held another job but it’s time America gave them a chance to go find one.

From Fox News

WASHINGTON — Responding to criticism from a Senate Democratic ally, President Obama explained why he fired the Inspector General of the AmeriCorps without the 30-day notification required by law, calling Gerald Walpin so “confused” and “disoriented” that there was reason to question “his capacity to serve.”

The letter, authored by Norman Eisen, Special Counsel to the President for ethics, concluded: “It was for these reasons that Mr. Walpin was removed.”

• Removed after unanimous request from the AmeriCorps board of directors
• At May, 20, 2009, board meeting Walpin “was confused, disoriented and unable to answer questions and exhibited behavior that led the board to question his capacity to serve.”
• The U.S. Attorney for the Eastern District of California complained about Walpin’s conduct to the IG oversight board and alleged he withheld exculpatory evidence.
• Walpin had “been absent from the Corporation’s headquarters, insisting upon working from his home in New York over the objection” of the board.
• He “exhibited a lack of candor in providing material information to decision makers.”
• He “engaged in other troubling and inappropriate conduct.”
• He “had become unduly disruptive to agency operations, impairing his effectiveness.”

“The White House has failed to follow the proper procedure in notifying Congress as to the removal of the Inspector General for the Corporation for National and Community Service,” Senator Claire McCaskill  (D-MO)said in a statement. “The legislation which was passed last year requires that the president give a reason for the removal. ‘Loss of confidence’ is not a sufficient reason. I’m hopeful the White House will provide a more substantive rationale, in writing, as quickly as possible.”

Walpin led a 2008 investigation into allegations of misused taxpayer funds distributed by AmeriCorps to the St. HOPE Academy of Sacramento, founded in 1989 by Obama supporter and former NBA player Kevin Johnson. Walpin said Johnson, now mayor of Sacramento, misused roughly $850,000 in AmeriCorps funds. His referral to the U.S. Attorney’s Office did not result in the filing of criminal charges. But St. HOPE officials agreed, via a settlement, to repay half of its AmeriCorps grants.

Republicans also have asked what role, if any, First Lady Michelle Obama played in Walpin’s firing. The White House denies she had any voice in Walpin’s future with the agency.

Republicans began to question Michelle Obama’s role after press reports indicated she was

Michelle - Is now "Linked" to Kevin. Reports are that they talk to each other quite often

taking a strong interest in AmeriCorps activities and when her former chief of staff, Jackie Norris, became a “senior adviser” to the Corporation for National and Community Service, also known as AmeriCorps.

http://www.foxnews.com/politics/2009/06/16/obama-accuses-fired-inspector-general-americorps-confused-disoriented/

FaceFwd Comments:

I am almost positive that some of the allegations against Gerald Walpin were dead on.  THe statements, He “had become unduly disruptive to agency operations, impairing his effectiveness.” is the most telling.  He got in their face and stopped them from stealing tax money by Kevin Maurice Johnson, former NBA player and current mayor of Sacremento.

If you think this is just an isolated case and you are safe, you are wrong.  No one is safe from this administration.  Who else will be fired? Who else will be taken to the back of the room and threatened?  Who else will have their reputation smeared by being called “confused” and “disoriented” by the president?  Who’s next? You?

 With the recent news of the supreme court decision of allowing the Chrysler bankruptcy to proceed, I am sad to say that the third and final branch of our government has fallen. I had hoped that Ruth Ginsberg would hear the case and America would get a favorable ruling on the Chrysler case. A favorable ruling would would have included giving the bond holders first crack at the money they were owed, and ruling that the TARP money could not be used for Car Company Bailouts and upholding the rule of law. Alas, no. Instead, the New Car Czar, Steven Rattner and the Obama administration will continue to redistribute wealth by paying off the unions and beating up the investors. Now, nothing (legally)can be done to stop them

The Constitution is the basis for our laws. We will not survive without the Constitution of the United States of America. Without the rule of law to stop them, the federal government will be able to bully their way into every aspect of our individual freedoms. Restrictive Gun laws (or ammunition laws), Denial of Freedom of Speech, Open Borders, international law, end of states right are all much closer than you think

I fear revolt. The working class of the America, those that keep the nation afloat with their tax dollars, have reached a tipping point. They feel they have no voice in the government, are paying for programs they do not support, and are watching as the federal government empowers itself while disinheriting them. They no longer see the government as their protector they

1789 The year our government began operating under the constitution 2009 the year our government stopped operating under the constitution

now fear the government. I see anarchy raising her head and it appears to have the full support of our US Government.