Rep. Boozman: President can't spend bailout on Big 3

Gary Lookadoo of NW Arkansas News reported on comments by US U.S. Rep. John Boozman (R-AR) who doesn't think the president has the authority to use some of the $700 billion approved for a bailout of Wall Street to help the Big Three Automakers.

"I don't think they've got the authority to do it. I think this Congress has spoken. With the legislation that's being offered up so far, the so-called compromises and things that the Senate has not agreed to do ... Congress has voted," Boozman said. . . . Many other members of Congress have looked at the $700 billion bailout bill and agree with him that its language doesn't allow the White House to spend part of it on relief for the automakers. The $700 billion is being provided in two $350 billion installments, he said. Members of Congress might change their minds about the best use of the money before the end of the year. But most agree the legislation it previously passed doesn't allow the president or the Secretary of the Treasury to spend the money on an auto bailout, Boozman said. "There are some people in Congress who feel like it's appropriate to bailout the auto industries. There are others of us that don't feel like what they were asking for was appropriate. So you vote 'for' or 'against.' I think everybody agrees that it is Congress' responsibility and to take and use this other law that we passed and somehow start including a bunch of people that it wasn't intended to cover - I don't think that that's right or appropriate," Boozman said.

Boozman's comments leave us with the big question, "Does President Bush, Treasury Secretary Paulson, their staffs, House Speaker Pelois (D-CA) or Senate Majority Leaders Reid (D-NV) and Senate Democrat leadership understand or even care that they do not have authority to use any of the $700 bailout to aid the Big 3 auto industry in Detroit, Michigan?" Or is Rep. Boozman mistaken? Hope not!

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Tags: Arkansas, auto bailout, Harry Reid, Henry Paulson, John Boozman, Nancy Pelosi, President George Bush, Representative To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!