5.15.2010

GOP walks TARP tightrope: they voted for it, it worked, but they have to campaign against it

Republican Senators like John Cornyn (R-TX), John McCain (R-AZ), Bob Bennett (R-UT), and Judd Gregg (R-NH) are stuck in a nasty position. The TARP bailout, which they voted for, worked. It saved us from a deepening depression and helped to turn the economy around.

The problem?

One, it's bolstering the approval ratings of the interloper from Kenya. Two, the wingnuts hate it.

So the GOP has to run against something they voted for that worked because their constituents are crazy.

Ouch.

Interesting quote:
Sen. Judd Gregg (R-NH), who's retiring at the end of the year and is therefore unencumbered by the need to defend himself from the GOP base, has nothing to run away from.

"It was extremely effective. Not only was it effective and stabilized the financial industry, it also returned to the taxpayers almost $20 billion in interest and dividends that they would have otherwise not have."

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