Yesterday, Sen. DeMint appeared on "FOX News Sunday" with Chris Wallace to debate Rep. Charlie Rangel (D-N.Y.) on the Democrats' plans for a government health care takeover and the already bankrupt "Cash for Clunkers" program.
Sen. DeMint appeared on FOX Business yesterday with financial guru Dave Ramsey, saying that Washington, D.C.'s spending and debt is out of control. You can find a transcript of the interview here:
Sen. DeMint appeared on FOX News with Greta Van Susteren yesterday, pointing out that the recovery act was nothing but a liberal government spending plan that hasn't yielded President Obama's promised results. You can find a transcript of the interview here.
On Monday Sen. DeMint was blocked by Senate Democrat Leadership from having a vote on his amendment to audit the Federal Reserve. His amendment is based on a bill authored by Rep. Ron Paul (R-Texas) in the House, H.R. 1207, and Sen. Bernie Sanders (I-Vt.) in the Senate, S. 604.
From yesterday's Senate Banking Committee hearing with Treasury Secretary Timothy Geithner:
SEN. DEMINT: If over the next six months $50 billion comes back, will $50 billion go into the general fund of the United States?
SEC. GEITHNER: The way the TARP is designed -- and I didn't design this -- but the way it's designed is every dollar that comes back goes into the general fund but that does still create additional head room under the $700 billion authority for us to make capital investments -- make investments. So we have the ability to still use the $700 billion if we think there's a strong case for doing that, but the way the program works is a dollar comes in and goes to the general fund but still creates additional room for us to make a new --
SEN. DEMINT: So your understanding of what we did is that the Treasury now has $700 billion that it can use permanently, rotating in and out of the capital markets as you see fit?
SEC. GEITHNER: Well, I'm not quite sure permanent, but you're right.
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SEN. DEMINT: Are you working on a plan to show us of how you are going to move out of all this market, the ownership of General Motors, the ownership of AIG, all the money in the private banking? I mean, you've got a plan?
SEC. GEITHNER: Senator, as I said to Ranking Member Shelby at the beginning, this is a very important issue to me. We think about this a lot and there will be a time when we will be able to come to you and say here's how the unwinding process will work. But it's too early to do that now.
Senator DeMint will introduce an amendment to the budget resolution today that prevents further taxpayer-funded bailouts for auto manufacturers. This amendment is being introduced just days after President Obama announced that he is giving General Motors and Chrysler more time to present viability plans, even after they failed to do so successfully after receiving $17.4 billion in aid over the past 3 months . If the companies’ new plans are approved by the President, the federal funding trough will be opened again for at least another $21.6 billion.
Senator DeMint's amendment protects the interests of the American taxpayers. Because of past auto bailouts, our nation is $17.4 billion further in debt with nothing to show for it. This debt will grow another $21.6 billion if the companies and the President have their way ($16.6 billion for GM and $5 billion for Chrysler). Without this amendment, Congress and the administration will continue creating irresponsible policies that reward failure at the expense of hard working taxpayers and their families.
For more information on Senator DeMint's ammendment, click here.
Sen. Jim DeMint (R-SC) expresses concern about the impact that the GIVE Act will have on our nation and explains how the bill undermines the whole concept of volunteerism in America. The GIVE Act, which has been passed by the House and Senate and is currently awaiting the President's signature, dramatically increases the size of the Americorps program from 75,000 to 250,000 members and will cost $5.7 billion over the next 5 years. The result of this bill will be the creation of the 14th largest employer in the world.
