"We cannot spend our way into creating jobs. Despite billions in stimulus spending, we have little to show for it and record numbers of unemployment," Senator Roberts said. "Now we have a huge and growing deficit, and the President has today proposed using the same tactics again, with leftover TARP funds. These funds were not intended to be a blank check. I voted against TARP because it had very little oversight, and I was concerned taxpayer dollars would be wasted. It appears I was correct."

Senator Roberts is an original cosponsor of legislation, S. 2787, to repeal the authority of the Secretary of the Treasury to extend the TARP. TARP expires on December 31, 2009, unless Treasury Secretary Geithner exercises his authority to extend the program. Secretary Geithner is only required to give written notification to Congress which includes his justification and the estimated costs to the government.

"TARP authority should end on December 31^st rather than continue on as a slush fund to be used at Treasury and president’s discretion," Roberts said. "This money does not belong to us. It should be used to pay down the deficit for our grandchildren."

In addition, in September, Senator Roberts co-signed a letter to Secretary Geithner calling on him to let TARP expire at the end of the year and stating that all TARP repayments should be returned to the Treasury for debt reduction.

Senator Roberts, a member of the Senate Committee on Finance, voted against both the stimulus bill and the TARP.

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