Republican Plan To Protect Taxpayers by Ending The Bailouts of Fannie Mae and Freddie Mac FULL TEXT

Republican Plan To Protect Taxpayers by Ending The Bailouts of Fannie Mae and Freddie Mac FULL TEXT IN PDF FORMAT

After Nearly 400 Days of Ignoring Republican Solutions, Democrats Finally Ready to Discuss Fannie & Freddie Congressman Tom Price (R-GA) issued the following statement after the Obama administration held a forum to finally begin discussing what to do about Fannie Mae and Freddie Mac.

Taxpayers are currently on the hook for $6 trillion in Fannie and Freddie debt, with $150 billion already lost. House Republicans have had solutions on the table to reform these entities and end their taxpayer bailout for more than a year. Go here to read more about our solutions.

“It’s about time Democrats started talking about Fannie and Freddie,” said Congressman Price. “House Republicans have been at the table for the last 400 days with plans to end this bailout and protect taxpayers. Democrats did not even start looking for their chairs until yesterday. They have so far refused to take this issue seriously, even claiming that their so-called ‘financial reform’ law would end bailouts when in fact it does the exact opposite. Washington should never again reward reckless financial behavior with taxpayer bailouts, yet the Democrats’ notion of reform guarantees that it will.

“Democrats’ reluctance to address Fannie and Freddie is also a symptom of a larger problem – their refusal to stop spending money we do not have. Federal spending has grown to unprecedented levels under Speaker Pelosi and President Obama, even as the bailout for Fannie and Freddie grows more expensive with each passing day. We cannot afford to ignore the costs of these reckless policies any longer. Republicans are leading the way on both these issues with concrete proposals to cut bloated spending and end taxpayer bailouts for reckless financial entities.”

United States Representative Tom Price For Immediate Release Wednesday, August 18, 2010 Contact: Ryan Murphy Washington, DC Office | 424 Cannon House Office Building | Washington DC 20515 phone: 202-225-4501 | fax: 202-225-4656