Political Quotes

“I ask unanimous consent that reading of the amendment be dispensed with. The ACTING PRESIDENT pro tempore. Without objection, it is so ordered. The amendment is as follows: (Purpose: To protect United States taxpayers from paying for the bailouts of foreign governments) On page 1565, after line 23, add the following: TITLE XIII--MISCELLANEOUS SEC. 1301. RESTRICTIONS ON USE OF FEDERAL FUNDS TO FINANCE BAILOUTS OF FOREIGN GOVERNMENTS. The Bretton Woods Agreements Act (22 U.S.C. 286 et seq.) is amended by adding at the end the following: ``SEC. 68. RESTRICTIONS ON USE OF FEDERAL FUNDS TO FINANCE BAILOUTS OF FOREIGN GOVERNMENTS. ``(a) In General.--The President shall direct the United States Executive Director of the International Monetary Fund-- ``(1) to evaluate any proposed loan to a country by the Fund if the amount of the public debt of the country exceeds the gross domestic product of the country; ``(2) to determine whether or not the loan will be repaid and certify that determination to Congress. ``(b) Opposition to Loans Unlikely To Be Repaid.--If the Executive Director determines under subsection (a)(2) that a loan by the International Monetary Fund to a country will not be repaid, the President shall direct the Executive Director to use the voice and vote of the United States to vote in opposition to the proposed loan.''.”