Whip Out the Checkbook: US Taxpayers Paying for Another Bailout

Call it my Big Fat Greek Bailout.  Senator DeMint writes that the US taxpayer is on the hook for at least $7 billion of the Greek bailout.  


U.S. taxpayers are helping finance Greek bailout

05/06/10 at 12:00 AM

The International Monetary Fund board has approved a $40 billion bailout for Greece, almost one year after the Senate rejected my amendment to prohibit the IMF from using U.S. taxpayer money to bailout foreign countries.

Congress didn’t learn their lesson after the $700 billion failed bank bailout and let world leaders shake down U.S taxpayers for international bailout money at the G-20 conference in April 2009. G-20 Finance Ministers and Central Bank Governors asked the United States, the IMF’s largest contributor, for a whopping $108 billion to rescue bankers around the world and the Obama Administration quickly obliged.

Right now, 17 percent of the IMF funding pool that the $40 billion bailout is being drawn from comes from U.S. taxpayers. If that ratio holds true, that means American taxpayers are paying for $6.8 billion of the Greek bailout.

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