Inhofe Calls for Bailout Halt

Monday, November 17th 2008, 11:07 pm
By: News 9

WASHINGTON, D.C. -- Senator Jim Inhofe wants to halt any more handouts from the $700 billion bailout plan, and he's taking his case to Congress.

"I frankly don't know how much has already been spent," Inhofe said. "There's an article in the Wall Street Journal that all but $60 billion has been spent. That may be true, it may not. I have no way of knowing. That alone is enough reason, enough concern that a senior member of the United States Senate doesn't know how much of the taxpayer money has been spent."

Based on the concerns, Sen. Inhofe introduced a bill to take control of the purse strings.

He wants Congress to decide how to spend every last dollar of bailout money.

Sources said Treasury Secretary Henry Paulson wants to leave the decision to the new Obama administration.