US AID TO BAILOUT EUROPE? HELL NO!

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US AID TO BAILOUT EUROPE?  HELL NO!

 

As Europeans scramble to put together a large enough bailout package to pay for the profligacy of Portugal, Italy, Greece and Spain, their lonely eyes turn to the United States.  Knowing that they can’t come to Congress for aid, they are trying to end run around our legislative branch by funneling the aid through the International Monetary Fund (IMF), 17% of whose money comes from the United States.

If the IMF grants a $1.3 trillion line of credit to the ailing European nations, it has the potential to cost the American taxpayers $200 billion.  And these funds can be appropriated without asking Congress.

Always happy to spend money, President Obama said this week that the U.S. “stands ready to do our part” in saving the European nations and, The Hill reports that Treasury Secretary Timothy Geithner said that “using U.S. tax dollars through the IMF to shore up Europe’s efforts was appropriate.”

Fortunately, Senators Jim DeMint (R-SC) and Tom Coburn (R-Okla) and Representative Cathy McMorris Rodgers (R-Wash) are planning legislation directing the U.S. government to veto the use of IMF funds to which we would be obliged to contribute to save southern Europe.

“I’m adamantly against the IMF being involved in this,” Coburn said. “We’re throwing good money after bad down a hole that I think is not a solvable problem.” Europe is going to default eventually, so why would you socialize their profligate spending.”

Europe could solve its own problems anytime it wished by promoting real regional and continental integration.  Were Germany and France and Britain to stand behind the debts of Portugal, Spain, Italy and Greece, there would be no default or even much increase in interest rates for sovereign debt.   But the German, French, and British voters are not happy about paying the bill for the profligacy of their southern neighbors.  So an assumption of the debt of these teetering countries is out of the question.

Instead, they have come up with a new plan – get America to chip in through the IMF.

Let’s battle to get the DeMint-Coburn-Rodgers legislation approved.  Sign this petition to Congress.  Be sure to include your physical address and your email address so we can direct your signature to your specific member of Congress and Senators.

We must stop this bleeding ulcer from draining our Treasury.  Let Europe solve its own problems, for once.

We'll add you your email address to our Alerts List to keep you posted and let you know if we need to take further action to stop this travesty.

 

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We are no longer represented by the Democrats and Republicans. They tow the line for the Federal Reserve, International Bankers, the Elite Corporations and the Israeli Lobby, this is all so obvious! Our U.S. Leadership are purposely destroying this country economically. They have certainly done so to our industry and are very proud to promote there reckless Free Trade legislation/foreign signed Treaties. The present Administration, our Washington, District of Criminals are a shameful bunch! Stop all Foreign Aid, NOW, this is not your Constitutional mandate! Just what rock did you people crawl out from under? I hope we may send you all packing by the up and coming elections, for there is not one of you that would trust to
send back to Washington D.C. I refuse too vote for any of you! America First!

WE the People need to do an ICELAND on you criminals!
We need to first fix our ailing economy first. Use or don't spend that 1.3 trillion in Erope but here in the US on the deficit. However, I will support sending Obama's vaction money to the IMF if it shuts down his frivolous and abusive waste of taxpayer dollars.