Monday, May 10, 2010

Pence Says NO More US Taxpayer Dollars for European Bailouts

Words defy what we are thinking. How dare this Administration to even consider a $1 Trillion Bailout of the Euro when we have our own financial problems caused by the Democrats. Let the European countries fix their our financial houses. Why would we bail out the Euro? Would that hurt the dollar in the process? I cannot believe this Obama Administration would even consider using our tax dollars to put us further in deficit spending to bailout the Euro. The US Treasury is not Obama's piggy bank!

Latest Near $1 Trillion Bailout of Euro Comes on the Heels of Bailout for Greece

Washington, D.C. -- U.S. Congressman Mike Pence, Chairman of the House Republican Conference, issued the following statement today regarding news that the United States is being asked to participate in a near $1 trillion bailout to keep the Euro afloat. This comes on the heels of American taxpayers being forced to share in the International Monetary Fund's (IMF) bailout of Greece. The United States is the world's largest contributor to the IMF. Pence said:

"The bailout of Greece set a dangerous precedent of using American tax dollars for other European bailouts. Now Americans are waking up to the harsh reality that they may be on the hook to keep the Euro afloat as well.

"It is important for world markets that Greece and other European nations right their economic ships, but American taxpayers should not be responsible for bailing out nations that have created their own debt crises through out-of-control spending.

"With Portugal, Spain and perhaps others to follow in Greece's footsteps in the near future, this action shows the Obama Administration is headed down a dangerous path of bailing out European countries at a time when we face our own debt crisis."

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