President Obama is calling on the U.S. to increase funds for the International Monetary Fund (IMF) due to the current situation in Ukraine. Obama has been pushing Congress to pass the 2010 IMF quota reform package for several years with no success. It’s an expensive package and most House Republicans are no fans of the IMF. Now with the crisis in Ukraine, Obama sees a perfect political opportunity to pressure Congress into voting for more IMF funding.

After receiving a $145 billion bailout in May 2010, Greece is now seeking a second larger bailout from the European Union (EU) and the International Monetary Fund (IMF). Here we go again. Of course, throwing even more money at the European welfare state won’t solve its problems.  The Greek government created their own problems by rapidly expanding the welfare state over the past couple decades. A second U.S. taxpayer-financed bailout of Greece will only make the debt situation worse in the long-run.

Dear FreedomWorks member, As one of our million-plus FreedomWorks members nationwide, I urge you to contact your senator and ask him or her to cosponsor S. 1975, the “No More IMF Bailouts Act.” Introduced by Jim DeMint (R-SC), the bill would stop the International Monetary Fund (IMF) from using U.S. taxpayer dollars to bailout Eurozone nations like Greece and Italy. It would rescind a $108 billion line of credit to U.S. funds given to the IMF in 2009, force Treasury Secretary Tim Geithner to veto future IMF bailouts, and stop a proposed doubling of U.S. dues to the IMF.

Dear FreedomWorks member,  As one of our million-plus FreedomWorks members nationwide, I urge you to contact your representative and ask him or her to cosponsor H.R. 2313, a bill to repeal the authority to provide certain loans to the International Monetary Fund (IMF), the increase in the United States quota in that Fund, and certain other authorities, and to rescind related appropriations. Introduced by Rep. McMorris (R-WA), the bill would rescind the additional funding for the IMF, requested by the Obama administration in 2009. H.R. 2313 would save $108 billion by repealing the $8 billion increased United States quota and the $100 billion line of credit to the IMF.

The International Monetary Fund (IMF) is a fundamentally flawed institution that currently serves as an international bailout fund. The global bureaucracy has spent decades bailing out reckless foreign countries and banks, of which most recently are Greece, Ireland and Portugal. But now reports are circulating that the IMF needs a bailout of their own.  

On this day 40 years ago, former President Richard Nixon suspended the convertibility of the U.S. dollar into gold. The decision, which radically changed the global monetary system, still holds enormous ramifications for every single American today. The money in our pockets would be worth more if Nixon hadn’t cut the link between U.S. dollars and gold.

It’s former French Finance Minister Christine Lagarde first week as the Managing Director of the International Monetary Fund (IMF). She is replacing the former IMF chief Dominique Strauss-Kahn (DSK) who recently resigned after being arrested in New York City for an alleged rape. Shortly after DSK was formally indicted, the IMF began its month-long politicized selection process behind closed doors. In choosing Christine Lagarde to fill the vacant leadership spot, the IMF is merely replacing one French socialist with another.

Here is a video of my Federal Reserve and International Monetary speech from the FreedomWorks grassroots bootcamp over the weekend: 

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.