The Community Reinvestment Act of 1977 used legislative power to force banks to lend to low income households. Through the strongarm of Fannie Mae and Freddie Mac, the Federal Gov’t ripped apart traditional pragmatic lending and opened the floodgates to a housing bubble.

Now, Mr. O’Donnell and his Democratic cronies wish to punish the same institutions that fall into this catagory.

To think that we can get back to prosperity by raising taxes on both large corporations and small businesses, and then using that money – along with TARP – to lend to small business is absolutely absurd. Why should we tax entities to lend to others?

Small businesses don’t want credit right now – they want tax breaks. Sustainable growth tools, such as tax cuts and credits, are the only way to assure confidence in their financial decisions. Why would a company that’s struggling to stay afloat want to take out loans that potentially mortgage their future when they can’t pay back the funds?

I have confidence in the private sector – everyday Americans that risk their futures and their businesses to bring about a better place to live for each and every one of us.

One example: The United States Postal Service used to say that they would never be able to overnight a package across the U.S. Once UPS and FedEx came about, they now do it every day. The USPS continues to run massive deficits every year, while the Postmaster General receives more compensation than even the President.

Is this the efficiency that the gov’t will show with these new jobs bills? Look at the Porkulus bill, known as the American Recovery and Reinvestment Act – not even half of the money is out the door and we’re already talking about another jobs bill and more lending to financial institutions?

Give me a break.