[Congressional Record Volume 156, Number 70 (Tuesday, May 11, 2010)]
[House]
[Page H3281]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                        U.S. TO BAIL OUT GREECE

  (Mr. POE of Texas asked and was given permission to address the House 
for 1 minute.)
  Mr. POE of Texas. Mr. Speaker, the International Monetary Fund, the 
IMF, is guaranteeing up to $321 billion in loans to bail out European 
Union countries, like Greece, Portugal and Spain. That means American 
taxpayers will be on the hook for billions of dollars for these 
unsecured loans. We're the IMF's largest contributor.
  Also, the European Union was formed to compete economically with the 
United States. Now it's crashing down like a socialist stack of cards. 
So U.S. taxpayers are going to pay to support our international 
competitor--the EU.
  Why should American taxpayers bail out Europe's big pensions--and 
their government-run health care? Greece is in the EU and it's the EU's 
responsibility, not ours.
  I don't see the IMF coming to the rescue of California and New 
Jersey. Their economies are bigger than Greece's and they are in 
financial chaos as well.
  Mr. Speaker, the American taxpayer is tapped out. We have 10 percent 
unemployment. We don't have the money to bail out Greece. It's time 
Uncle Sam quit being the ATM for the rest of the world, stop spending 
money we don't have, and stop the bailout nonsense.
  And that's just the way it is.

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