Pro-bailout parties form government in Greece, so time to stop the bailout

June 20, 2012, Fairfax, VA—Americans for Limited Government President Bill Wilson today issued the following statement urging the House Financial Services Committee chaired by Rep. Spencer Bachus to send HR 2313, a bill by Rep. Cathy McMorris Rodgers, which would rescind what remains of a $108 billion expansion of credit to the International Monetary fund that has been used to bail out Greece:

“Now that the pro-bailout parties have cobbled together a shaky government in Greece, it is certain that U.S. taxpayers will continue to prop up European banks that bet poorly on the sovereign debt of not just Greece, but also Portugal and Ireland, and soon Spain. Already, U.S. lending to the IMF has topped $32.7 billion, with bailouts in Europe accounting for most of that at over $24 billion. What a waste.

“Yet House Republicans since taking the majority have not attempted to rescind the additional $108 billion of funding to the IMF that was approved by the Pelosi-Reid Congress in 2009. Their silence on this issue guarantees tens of billions of tax dollars will continue to be wasted to bail out reckless European, socialist governments and the banks that lent them the money to begin with.

“HR 2313 should be sent to the floor immediately for an up or down vote, and then sent to the Senate, before any more money is poured into the pit of European socialism.”

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at to arrange an interview with ALG President Bill Wilson.