Stop Bailing Out Countries, States, and Companies

Floor Speech

Mr. FLEMING. Mr. Speaker, recently the IMF announced a giant bailout to keep Greece from defaulting, defaulting on its own debt, debt for its socialistic economy. The U.S. is the largest contributor to the IMF; therefore, we are the largest bailout source for this. That's right, Mr. Speaker, the U.S. taxpayer is now in the business of rescuing Greece from its debt crisis, which was brought on by reckless borrowing and spending to fund welfare programs.

While the U.S. is putting itself on the hook for another bailout, liberals in Washington are working hard to copycat the Greek model: taxing, spending, borrowing, and increasing entitlement programs across the board. Behind Greece are other European countries on the verge of default. Are we going to bail them out, too? And that's not to mention States like California and the many companies this government has already bailed out. Who will bail out our country when we can't borrow our way out of trouble?

Mr. Speaker, let's stop bailing out countries, States, and companies, and hold all entities, including ourselves, accountable for runaway spending.

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