“President Obama exceeded his authority by asserting executive privilege over subpoenaed documents related to the Justice Department’s cover-up of Operation Fast and Furious,” said Oversight and Government Reform Committee Chairman Darrell Issa.
“In the wake of a massive taxpayer funded bailout of General Motors and Chrysler, the Obama Administration took aggressive action to force a rulemaking process that reflects ideology over science and politics over process and law,” Issa said.
“The Committee on Oversight and Government Reform has obtained documents which raise questions about how your interactions with business leaders at political events affected decisions to give billions of taxpayer dollars in loan guarantees to green energy companies…”
“The American people have a right to know that White House staff and federal officials are conducting the business of the government transparently and in accordance with record-keeping statutes,” said Issa.
“While I’m disappointed that this Administration has not made more substantial efforts to cut red tape and create jobs, outgoing Administrator Cass Sunstein appeared to recognize the harm overly burdensome regulations inflict on economic growth and job creation…”
“Today’s decision by Acting Director DeMarco protects taxpayers from picking up even more costs to bailout Fannie Mae and Freddie Mac’s bad financial bets. Other policies, such as temporarily reducing payments have been shown to be much more effective and cost efficient than principal write-downs.”
“ATF and the Arizona U.S. Attorney’s Office failed to consider and protect the safety of Americans, Mexicans, and fellow law enforcement personnel throughout Operation Fast and Furious….”
“The Obama Administration has issued some 106 rules in its first three years that collectively will cost taxpayers more than $46 billion annually in compliance and lost productivity. This is four times the number of major regulations and five times the cost of rules issued in the prior administration’s first three years.”
“Since the 2008 financial crisis, the Fed has tripled its balance sheet to $3 trillion, equivalent to 20% of the economy, through an unprecedented series of bailouts and economic interventions,” Chairman Issa said.
“Last week’s unemployment numbers remained stuck at unacceptably high levels. This reflects the poor climate for businesses that currently exists under the Obama Administration,” said Oversight Chairman Issa.