I may have been a little hasty and a little harsh in my criticism of Republican legislators. It seems we do have some Republicans with courage and principle. They are making me proud.
Politico just reported, "Republican leaders across the board have let loose on President Bush’s auto industry bailout in what may be some of the toughest GOP criticism of the Bush presidency." And, a "cast of other angry fiscal conservatives" are criticizing Bush.
According to Politico, John McCain is leading the charge. "It is unacceptable that we would leave the American taxpayer with a tab of tens of billions of dollars while failing to receive any serious concessions from the industry,” McCain is quoted as saying.
Sen. Judd Gregg (R-N.H.) makes the point that it is an illegal use of the TRPA funds to use those funds to bailout the auto industry. “These funds were not authorized by Congress for non-financial companies in distress,” Gregg said, “but were to be used to restore liquidity and stability in the overall financial system of the country and to help prevent fundamental systemic risks in the global marketplace.”
It is probably too late to impeach Bush. There is probably no easy mechanism to stop the President from misappropriating funds. I wish someone would introduce legislation to repeal TRPA or impound the remaining funds. This abuse of power should not be allowed to stand.