David Kirkpatrick

May 13, 2010

GOP wants to block “Euro bailout”

Filed under: Business, Politics — Tags: , , , , — David Kirkpatrick @ 7:07 pm

This is simply shortsighted, puts the cart before the horse and is, well, really inane. I abhor the idea that US dollars could be used to bailout foreign companies or governments, but the reality is we do it regularly. And whatever code words someone wants to throw around, like “new world order” to offer one example, we actually do live in a global economy where if any of its moving parts — US, Asia or yes, even the European Union — catastrophically fails, everybody else does, too. Ever try to drive a car with one blown-out tire?

From the link:

After a week of preemptive attacks on a possible IMF bailout of Greece, Rep. Mike Pence (R-Ind.) introduces the European Bailout Protection Act, aimed at preventing taxpayer dollars from going to a rescue plan.

“This legislation would require that countries like Greece cut spending and put their own fiscal house in order,” says Pence, backed up by other members of the House GOP, “instead of looking to the United States for a bailout. We face record unemployment and a debt crisis of our own, and American taxpayers should not be forced to bear the risk for nations that have avoided making tough choices.”

(Hat tip: Drudge Report)

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