The American people are beginning to get scared.  The Congress is piling up unprecedented levels of debt and annual deficits. President Barack Obama's programs have already quadrupled the deficit for this fiscal year (2009) with his stimulus package and his deficit for this year will be a whopping $2 trillion.  President Obama's $3.6 trillion budget will have created more debt that all the previous 43 presidents put together.

That is why the American people are alarmed and why the president's approval ratings are dropping like a rock.  Some 51% of the American people have no confidence in the president's ability to fix the economy.

The Chairman of the Republican Study Committee, a group of over 100 conservative Republicans in the United States House of Representatives, Georgia Congressman Tom Price, said this week about President Obama's policies: "After six months, it's now clear that President Obama's economic policies aren't producing an economic recovery.  In addition to the $787 billion so-called stimulus package, the Democrats have handed billions of taxpayers' dollars to the auto industry, the mortgage industry, financial institutions, and more.  All the President has to show for his efforts are mounting job losses and the largest deficit in history, an estimated $1.85 trillion in Fiscal Year 2009."

 Congressman Tom Price goes on to say:  "President Obama recently tried to push back against criticism of his policies by arguing that his 'stimulus' plan was never intended to produce a fast recovery.  While conservatives have known all along that it wouldn't spark a quick economic recovery, we also recall that members of his administration repeatedly claimed it would provide an immediate boost.  And if that wasn't the President's intention, what was the point?  With the President now attempting to move the goalposts, it's time to end the bailouts and stop his out-of-control spending."

 The American people according to the latest polls give the advantage to Republicans as to which party can solve our current major problems, in almost every area of concern.  The House Republican Study Committee, under the leadership of Congressman Price has introduced the "Reducing Barack Obama's Unsustainable Deficit Act," H.R. 3140, also called the REBOUND Act. 

Congressman Price says that "The REBOUND Act cancels the spending portion of the non-stimulus package, saving taxpayers about $460 billion.  It also reclaims all unobligated TARP money, currently around $150 billion, and requires all future repayments of TARP funds to go exclusively toward debt reduction.   

The Obama administration is currently using TARP as a revolving slush fund from which they can "invest" taxpayer dollars into whatever bailout they claim is needed next."   He concludes by saying:  "If anyone needs a bailout, it's the American taxpayer.  This simply cannot continue, and the RSC will keep fighting against the reckless (and apparently pointless) economic policies of President Obama and his allies in Congress."   

The American people will be watching closely to see which party is serious about reducing our national debt and our annual deficits and eliminating waste, fraud and abuse.  The elections next year will determine the winner.