TARP Continues to Stain GOP Reputation
Republicans in the nation’s capital are rightfully hitting Obamacare as a giant redistribution of wealth program that would make even Vladimir Lenin jealous. However, its ironic that many of these same Republicans criticizing the redistribution taking place under Obamacare voted, and in some cases begged, for the passage of the Troubled Asset Relief Program, also known as TARP.
TARP, with its nearly one trillion dollar price tag, was passed during the Bush administration in the fall of 2008 and saw taxpayer dollars and the wealth of middle class Americans redirected by the federal government to the titans of Wall Street such as JP Morgan and Goldman Sachs. TARP constitutes the single biggest redistribution of wealth scheme in the history of the United States and may even rank up there with anything that took place during the Soviet Union and Mao’s China. So while Republicans criticize the redistribution of wealth from the “rich to the poor” via Obamacare they seem to have no problem sending tax dollars to the big bankers on Wall Street — or the giant farming corporations while at the same time cutting food stamps. Democrats engage in “economic justice” to stay in power and the GOP in crony capitalism.
Its probably true that the political class in Washington is the least self-aware group of people in the nation but if the GOP wants to cast stones at Democrats for their socialist policies they should really repair the cracks appearing in their own house — especially with the TEA Party finally providing a long needed check on the way the national Republican Party does business.