Political Quotes

“As we debate the issue of increasing the American share in reserve funds of the International Monetary Fund, I think we should first consider the following two questions: Would it make sense for U.S. companies and employees to pay taxes to bail out foreign competitors of American business? Should Americans pay taxes to bail out foreign countries that have engaged in unfair business practices that previously made it difficult for American companies to sell their goods at home and abroad? The resounding answer to these questions is no. These would, however, be the precise ramifications were Congress to approve IMF funding legislation that does not require all countries who receive IMF loans to engage in just and fair business practices that do not threaten the American companies whose very tax dollars make these IMF contributions possible. I would like to touch on the recent IMF loan to South Korea, which I believe is a compelling example for why the IMF must be reformed.”