AFP Leads Conservative Coalition Against U.S.-Funded Euro Bailout

December 08, 2011 J

[img_assist|nid=25037|title=|desc=|link=url|url=http://www.americansforprosperity.org/budget-spending|align=left|width=79|height=103]Today Americans for Prosperity joined nineteen other conservative organizations in sending a letter to Congress demanding they do not use U.S. taxpayer dollars to bail out troubled European governments.

The International Monetary Fund (IMF), which receives nearly 17 percent of its funding from the United States, has committed $353 billion to bailing out European governments, though much of that money has not yet been spent. Greece, Ireland, and Portugal have already received hundreds of billions in funds from the European Union and the IMF. If the crisis continues to spread, more money may be put on the table to bail out additional European countries.

“Hardworking American taxpayers should not be forced to cover the costs of reckless government spending policies in countries like Greece and Italy,” the coalition letter reads. “The problems in Europe are for Europe to address without forcing American taxpayers to pick up the tab.”

The letter asks Congress to limit funds used for an IMF bailout facility and rescind the additional $108 billion line of credit for the IMF that the Obama administration created in 2009.

A copy of the letter is available below.

12-8-11 Coalition Letter – Oppose U.S.-funded Euro Bailout

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