The $108 billion IMF bailout moves forward
I gave you a heads-up last month about the coming $108 billion IMF bailout.
Sens. DeMint and Coburn have been watchdogging the foreign giveaway.
What’s the latest? The Democrats are trying to tack the foreign bailout to the emergency war supplemental bill!
A glimmer of encouraging news: It’s not just fiscal hawks who are balking at this ploy (via CongressNow):
Liberal House Democrats are pressing for the inclusion of lending conditions for the International Monetary Fund to be added to the final version of the war supplemental bill that could come up for a vote in the House and Senate this week.
Democratic aides say the Senate’s decision last month to include $5 billion for the IMF in the $91.3 billion measure has emerged as a sticking point in the House, where both liberals and Republicans have criticized the funds. GOP lawmakers largely supported the House’s $96.7 billion bill, which funds the wars in Iraq and Afghanistan, but have criticized the inclusion of the IMF funds in the bill that later emerged from the Senate.
The $5 billion — added to the Senate bill only after the Congressional Budget Office agreed to score the funds on a credit basis, rather than at full cost — makes good on a pledge by President Barack Obama earlier this year to contribute $108 billion to the IMF.
But in a letter circulating for signatures, more than 30 House Democrats call the last-minute addition of the IMF funds — which the administration requested only after the House passed its version — a “blank check” for the IMF.
Via Boehner’s office, troops are getting shortchanged amid the bailout wrangling:
Funding for troops protecting our nation in Iraq and Afghanistan has officially been placed on hold while Democratic leaders try to secure enough Democratic votes to attach to the legislation a $108 billion global bailout for the International Monetary Fund (IMF) – a bailout that could line the pockets of terrorist regimes around the world, according to Democratic Rep. Brad Sherman (D-CA). In a letter to his colleagues earlier today, Rep. Sherman warned, “We face the very real possibility that some of the world’s worst regimes will benefit from the additional resources provided to the IMF, World Bank and other international institutions, unless the U.S. works vigilantly to deny this assistance.”
An initial troop funding bill passed the House last month by an overwhelming bipartisan majority – 368-60. And the final version of that legislation could pass the House right now by an equally strong margin, giving our men and women in uniform all the tools they need for success in Iraq and Afghanistan. However, Democratic leaders seem willing to let that bipartisan coalition unravel as they barrel ahead with their global bailout scheme.
Time to burn up the congressional phone lines: 202-224-3121.
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Trackbacks
- The International Monetary Fund bailout for $108 million | Fire Andrea Mitchell!
- IMF bailout on track | The TIW Blog
- Troop Funding and the IMF Bailout - Cultural Gadfly
- Save the GOP » Blog Archive » Because We Have So Much Extra Cash Just Lying Around . . .
- Jon Voight: Against “False Prophet” Obama & Democrat Party: “Everything Obama Has Recommended Has Turned Out to Be Disastrous… Breathtaking Speed to Marxism” « Frugal Café Blog Zone
- The Hill’s Blog Briefing Room » MORNING READ
- The Hill’s Blog Briefing Room » DAY’S END ROUNDUP
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Didn’t the Fed chief just issue a warning about government debt???
This country is insolvent now. How can we, make any promises of payment to anyone, much less actually give them actual dollars? Rome is burning and Nero/Zerobama fiddles with middle eastern friends that won’t even shake his hand. Amazing.
The only time the far left appreciates the troops is when they can use them as leverage to push through appropriations that would never make it on their own.
It’s time for us to fix our own roof, not worry about any neighbors’ house.
Hey, the Saudis can afford some pretty fancy bling. Let them pay for it.
WHAT THE HELL IS WRONG WITH THIS GUY?!
He’s ruining America!
He’s got to be stopped!
He’s got to be stopped!
Gosh, it is only $108,000,000,000.00. What’s the big deal? It’s not like it is $787,000,000,000.00 or something. Why that is barely the price of a loaf of bread in Zimbabwe. What’s the big deal?
Over $100 billion to leave the US, as added debt after the ~ $900 billion Porkulus?
They can’t grow cotton or cut down trees fast enough to print the money the Fed will need to buy Treasuries.
Hey, the Chinese own all of our debt,Let them pay for it.
Hey, we exported all of our jobs to India. Let them pay for it.
Hey, the Russians have vast oil and gas reserves. Let them pay for it.
Hey, the Iranians can afford frivolous stuff like nukes. Let them pay for it.
Hey, the North Koreans….nevermind.
I’m sure the Madoff family has some extra cash stashed away somewhere. Let them pay for it.
IIRC, the estimate is in 2010 the debt will be about 98% of GDP, and the government will borrow/print about fifty cents for every dollar it receives in taxes.
The 98% thing- if everyone in America agreed to work a year without pay next year, as hard as they do now, paying 100% income tax, for as many hours, we’d still have debt left over because of spending that year.
All of this is immaterial to lefties, who think jobs and money come from the government…
They’ll just put more zeros on them and lefties will think they are worth more not less by doing so.
Hey, the drug cartels own Mexico, tax free. Let them pay for it.
Hey, the Europeans….nevermind….Socialists….broke like we are.
Hey, the Africans….silly me….what was I thinking.
Hey, I heard that they found more penguin colonies in Antartica than we thought by spotting their poo droppings from satellites in space. I guess they are the only ones that can pay for it. Sorry penguins, we mortgaged your future. But there is good news, the weather should be a bit balmier in the future. Or so they say.
Why don’t we just keep the money here, claim we’re loaning it back to ourselves, and cut the IMF out of the picture?
Sounds like left logic to me.
On the war supplemental bill, there are a few (D)s out there that care about the military, but finding them is like trying to find the colors red, white, or blue at a Code Pink rally.
simply they’ll just raise your taxes to pay for it…or print more money thus further devaluing our currency…they don’t care about you or I one bit…
Uh-oh…MicroSoft is threatening to go Galt…
This black man continues to push against the levy of the Constitution, which was constructed by The Framers to hold back the evil of the greed and narcissism of the government of those such as him who see the Constitution as a constraint against socialism. If nobody will push back to uphold the Constitution then why not continue to push until the levy breaks and the floodwaters are too forceful to stand against?
It just occurred to me that this guy is probably the best thing that could happen to conservatism at this time and he has ruined the chances for liberal black candidates for years to come. Thank you very much.
Where are the real American leaders and why are they keeping silent?
Geez, I hate the Senate democrats. And I really hate seeing Bill Ayers face everytime I log onto this site!
As opposed to the righties that think it comes from the trust fund daddy left?
I kid…I kid…
It comes from praying to Jesus.
Okay…still kidding…
Everyone knows it comes from dadgum hard work, ethics and heterosexuality.
Microsoft isn’t the only one going Galt. Here’s Craig T. Nelson with Glenn Beck last week.
Yeah, PP…
Who does that sound like…???
STARVE THE BEAST
Ring any bells…?
I was watching Bernanke’s testimony yesterday and I swear, most Congressmen seem to believe that so long as we appear to be in a deflationary environment, printing and spending money is a GOOD THING! The most common response to Bernanke’s warning about uncontrolled spending was “but there is no inflation anywhere in sight.”
Our entrenched criminal class of corrupt weasels is dumb beyond belief.
Sure but they’ll be five years late and on version 3.0 before they make it happen…
Chap,
Actually, Christians pray to the Father – not Jesus …and wealth is indeed created by hard work and ethics. Don’t see where hetero comes in, unless we consider multi-generational business building. After all, homos can’t reproduce, they can only recruit.
According to the idiot in chief “we have no money” but somehow there is 108 billion to give to the cash cows at the IMF….hmm wonder where that money will be spent and really don’t I work hard enough to pay for the illegals here in this country I now must pay for people who stay in their own countries?
When the Republican Party finally catches on to the SMALL GOVERNMENT mantra and MEAN IT they will actually have swelled numbers that will make these two painful years a distant memory! I don’t personally think they will but a girl can dream.
They can reproduce, they’d just rather not.
Re:AG #12
The over printing of existing paper money and stamps was done during the German inflation after WWI. So our $1 bill can be made into a $1000 bill easily by the Govt printing office. No need to cut down trees or grow more cotton to make new thousand dollar bills.
As for stamps we all ready have the “Forever Stamp”.
Wait a sec! I thought the Obamanible O-man told us we were out of money? Didn’t Timmy the Taxdude say nobody’s more concerned with deficits than the President?
You forget the wonders of modern science…
or the turkey baster option.
The Dollar Nuevo is coming.
“New” money allows Blue Lips to devalue the dollar as well as discovering how much American money is stashed in foreign banks and domestic matresses. In one move, he regains absolute government control over all US currency.
This will be done under the excuse that it is the only way to control inflation.
Hitler did the same thing with the same excuse twice.
Didn’t Obama just say we didn’t have anymore money? Which is it Obama? I never have liked given our tax money away especially when we in debt to the chinese up to our eyeballs. If you look at the interest compounding daily we will never get out from under the chinese at this rate. Obama’s plan is to bankrupt this country, impose martial law and take over the entire country. One world order my ass!
So Tax Cheat Geithner is down on his knees, begging the Chinese to LEND us money to GIVE to other people?
And this stupid fool is in charge of our economy?
Chapoutier, for once, you’re right. We do need to start praying.
Sometimes, your humor is entertaining. But at other times, it seems like an attempt to change the subject.
And as you know, getting a job SHOULD come from working hard to develop the skills required to do that job better than the others competing for the same position.
And praying to Jesus for the guidence to discover and best use your talents isn’t a bad thing.
I’d take the time to mock something you believe in, but I can’t imagine that there’s anything you actually believe in other than yourself.
People always ask, in general, why something is happening or has happened. I like to look at the who is benefiting. I know the Lame stream media does not print anything that does not fit with their political agenda, thats another who does it benefit moment also, but I would really like to know who or should i say what groups or group does all this debt benefit and why?
And this just in….
How long before he attempts to extend that to any publicly traded company????
Then to any company that could hold public money???? like a private hedge fund.
Then to any US company in the interest of…… “the public good”.
It’s coming…… He may get voted out of office before he gets it done, but you can bet the farm that it’s in his playbook.
And I know it’s a bit OT…. but…. how many Czars has Obama appointed?
What should be of great concern to all of us who actually want a free, capitalistic society as opposed to Obama’s locked down, controlled Orwellian society, is that, if I recall correctly, these Czars report directly to the him. Congress…. those pesky representatives of the people…. are not involved.
I wonder if Obama realizes how appropriate it is that he assigns these people the title of Czar?
Many governments have resorted to issuing “new” currency after they allowed inflation to run rampant. I got to see this first-hand in in Russia when they did this in 1997. Of course, the switch to the Euro allowed the same game. I still have 30 to 50 French Francs in a drawer somewhere.
I wonder what they will call the new currency.
Odollar
ZerOdollar
Charmin – oh, that one is taken…
NJ-Aviator said:
I think that number is around 14 or 15 now
Ensuring all the good executives go elsewhere.
108 billion to the IMF. Huh. Does anyone know exactly how much money has been spent since 1/20/2009????
The really smart, unscrupulous ones, will go into government, where the sky’s the limit and those cronyism points can really add up…!!!!
The others will leave.
Errah, Obama and Congress see our tax dollars as pixie dust to be sprinkled wherever their hearts’ desire. I would imagine everyday he’s out of the country it’s costing taxpayers more than just his hotel and airfare. The Euros are probably getting one of those big cardboard checks as we speak. I have it from good sources in the GPO that there’s a pallette of them onboard Air Force One. I wonder if he’ll be breaking off any crosses or jewish stars while at our cemetary in Normandy in order to save the ACLU the airfare. The yoke of foreign debt will be the ultimate factor in our loss of our soverignity.
Is this the same bailout that was announced as soon as Obama came home from the G20 meeting, the one where all the leaders loved him so much?
He got his news story and photo op, and then his new friends reneged.
And who cares? He looks so dreamy at the beach!
First the banks, then AIG, then the Not-Too-Big-To-Fail Two, now the IMF? Obama and the Dems are stretching the safety net to its breaking point, and it is we who are holding up the corners of it.
russia and china had safety nets too. russia got the mafia running it after the safety net collapsed with business plans of auto theft, prostitution, internet fraud and murder for hire. china got the nuevo rich party hacks going on gambling junkets with embezelled funds, piracy both product and seaborne, and of course that great equalizer, drug smuggling. since we start out with a vast array of criminals already i can hardly wait to see what new enterprises we morph into as our safety net can no longer hold the hordes already in it, and the hordes approaching it.
It’s quite a stretch I know… but are you starting to understand how the original colonists felt?
It would be a good START…
There was a very good piece on Hot Air by Doctor Zero a few days ago. See if you can find it.