Senate candidate Kirk calls for halting federal financial bailout, which he originally backed

Kirk calls for halting financial bailout he backed

SPRINGFIELD, Ill. — U.S. Senate candidate Mark Kirk wants to bring an early end to the government bailout of banks and automakers, a program he originally supported.

The Republican from Illinois says the Troubled Asset Relief Program is no longer needed. Kirk says the government would save $16 billion by halting TARP immediately.

Even if no action is taken, the TARP program is supposed to stop accepting new projects next month.

Kirk, a five-term congressman, had supported the program when the U.S. House voted on it two years ago. He said Monday it was needed then but not now.

Democrat Alexi Giannoulias (jeh-NOO’-lee-us) accuses Kirk of flip-flopping on the bailout.

The two are running for the seat previously held by President Barack Obama.