Ron Paul: International Bailout Brings Us Closer to Economic Collapse

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Ron Paul: International Bailout Brings Us Closer to Economic Collapse

Post by hawkiye on Tue 23 Jun 2009, 6:27 pm

Last week Congress passed the war supplemental appropriations bill.
In an affront to all those who thought they voted for a peace
candidate, the current president will be sending another $106 billion
we don’t have to continue the bloodshed in Afghanistan and Iraq,
without a hint of a plan to bring our troops home.

Many of my colleagues who voted with me as I opposed every war
supplemental request under the previous administration seem to have
changed their tune. I maintain that a vote to fund the war is a vote in
favor of the war. Congress exercises its constitutional prerogatives
through the power of the purse, and as long as Congress continues to
enable these dangerous interventions abroad, there is no end in sight,
that is until we face total economic collapse.

From their spending habits, an economic collapse seems to be the
goal of Congress and this administration. Washington spends with
impunity domestically, bailing out and nationalizing everything they
can get their hands on, and the foreign aid and IMF funding in this
bill can rightly be called an international bailout!

As Americans struggle through the worst economic downturn since the
Great Depression, this emergency supplemental appropriations bill sends
$660 million to Gaza, $555 million to Israel, $310 million to Egypt,
$300 million to Jordan, and $420 million to Mexico. Some $889 million
will be sent to the United Nations for so-called “peacekeeping”
missions. Almost one billion dollars will be sent overseas to address
the global financial crisis outside our borders. Nearly $8 billion will
be spent to address a “potential pandemic flu” which could result in
mandatory vaccinations for no discernable reason other than to enrich
the Pharmaceutical companies that make the vaccine.

Perhaps most outrageous is the $108 billion loan guarantee to the
International Monetary Fund. These new loan guarantees will allow that
destructive organization to continue spending taxpayer money to prop up
corrupt leaders and promote harmful economic policies overseas.

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