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Perry Caught In Blatant Lie Over Support For Bailouts

Denies he ever supported $700 million blank check for Wall St

Steve Watson
Sept 23, 2011

GOP Presidential candidate Rick Perry has been caught in an outright lie regarding his previous support for the 2008 Federal bailout of Wall Street.

When asked recently by a reporter about his position on the controversial TARP program and how that tallied with his current position on monetary policy, Perry denied that he had ever expressed any support for the federal bailouts.

“You never supported TARP?” asked the female reporter.

“No ma’am.” Perry replied.

“I thought I saw a letter where you’d written actually encouraging the support of TARP?” the reporter then stated.

“No Ma’am.” Perry once again replied.

In reality, Perry did strongly support TARP, and even wrote Congress in the Fall of 2008, demanding that it heed the call of then Secretary of the Treasury Hank Paulson to pass the $700 million bailout legislation.

Perry’s letter can be seen below:

Perry Caught In Blatant Lie Over Support For Bailouts 230911Perryletter

Perry even bragged in October 2009 during a radio interview that he had urged Congress to pass TARP:

“As a matter of fact, I signed a letter with the Governor of West Virginia, who’s a Democrat, when September/October a year ago, when they were talking about, Oh my goodness, the economy is tanking. We’ve got to do something.

We signed a letter that basically said you know don’t get all frozen up in fear, act. I didn’t know we needed to write it out for them and say stop spending all of the money and cut the taxes. That’s the blueprint that worked. And still we got people that voted for this bailout that was in hindsight now just an absolute giveaway, didn’t help the economy at all.”

It seems that Perry’s hypocrisy knows no bounds, as he even used the fact that Texas Senator Kay Hutchinson had flip flopped on supporting the bailout to attack her in one of his campaign ads. The following report from an NBC San Antonio affiliate highlights Perry’s hypocrisy on the matter:

This all once again goes to show that Perry cannot be trusted when it comes to the core policies he is touting as part of his presidential campaign.

As we have previously highlighted, despite all his recent rhetoric regarding the overreach of the Fed and too much big government spending, Perry is anything but a fiscally responsible politician, given that under his governorship Texas has run up a $13.4 billion deficit.

Perry also soaked up $22 billion in stimulus money from the federal government’s bailout package, as he was forced to admit in late 2009.

Needless to say, the real fiscal expert in the current GOP presidential race, Congressman Ron Paul, voted against TARP and has opposed every single piece of bailout legislation since.

Unlike Perry, Paul’s position on government spending has not wavered one iota for the past 30 plus years, during which time he repeatedly warned that the creation of credit bubbles and consistent devaluation of the dollar would lead to financial ruin.


Steve Watson is the London based writer and editor for Alex Jones’, and He has a Masters Degree in International Relations from the School of Politics at The University of Nottingham in England.

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