National Republican Trust PAC Statement:

FOR IMMEDIATE RELEASE
JUNE 10, 2009

By: Scott Wheeler

“TARP Repayment Funds Should Not Be Used As A Political Slush Fund For Obama To Repay His Supporters.”

(Washington, DC) – The National Republican Trust PAC (www.GOPTrust.com) issued the following statement in regards to President Obama and his Administration recycling paid back TARP (Troubled Asset Relief Program) funds:

“Earlier this week, the Treasury Department confirmed that 10 of our nation’s largest financial institutions will be allowed to pay back their TARP funds. But President Obama and Treasury Secretary Timothy Geithner have already signaled their intentions to hold on to the repayment funds ostensibly for other bailouts but the National Republican Trust PAC believes that money will go to Obama's preferred institutions as a reward for their support in the election,” stated Wheeler.

“This is political corruption at its worst. That money belongs to the taxpayers and it should go to pay down the debt that was incurred. Instead of keeping this money in a slush fund for the President’s and Secretary’s friends, they should give the money back to the taxpayers and not pass the debt on to our children and grandchildren.”

To schedule an interview with Scott Wheeler, Executive Director, National Republican Trust PAC, contact Elizabeth Ray (ext. 130), or Mary Beth Hutchins (ext. 105), at (703)-683-5004.