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Over the past three years, President Obama has spent billions of dollars bailing out big banks, insurance giants and auto companies. These massive programs have not only cost American taxpayers dearly, but have sent the message that in the future poorly-run companies will be rescued from their failures.
But that’s only the beginning—now Obama wants to bailout failing countries. Using the International Monetary Fund (IMF), Obama plans to put American taxpayers on the hook for a second 145 billion dollar rescue package for Greece.
Today, Senate Democrats and four Senate Republicans voted against S.AMDT.501, offered by Senator Jim DeMint (R-SC), which would have restricted the IMF’s ability to use U.S. taxpayer money to bailout foreign countries.
“Those voting against this commonsense amendment are supporting a Euro-TARP bailout and shielding critical nominees to IMF from accountability,” said Senator DeMint. “For years now, bailouts have become the preferred option for dealing with irresponsible actors in our government and financial systems. Mortgage bailouts, auto bailouts, and bank bailouts have not improved our economy or job prospects— TARP was a waste of taxpayer funds at home, and a Euro-TARP is an even worse idea. Bailouts are a bad solution made by those who want to avoid the tough, necessary choices required to produce a balanced budget.”
The four Republican Senators who joined with every Democrat but one and voted to force American taxpayers to bailout foreign nations like Greece are:
Brown (R-MA) (202) 224-4543
Cochran (R-MS) (202) 224-5054
Kirk (R-IL) (202) 224-2854
Lugar (R-IN) (202) 224-4814
It is important we let our Senators know that we should not be bailing out foreign counries. Not only is it bad policy, the U.S. taxpayers cannot afford it.
Senator Jim DeMint has promised to continue the fight against Euro-TARP and has introduced a stand-alone bill (S.1276) that would stop the Obama Administration’s costly bailouts of Greece and other European nations. Please encourage your Senators to support S.1276.
Sign our petition to stop Obama’s Greek Bailout.