Richard K. Armey: “Aside from reversing our military's decline, boasting our missile defense efforts, directing scarce education dollars to…”

“Aside from reversing our military's decline, boasting our missile defense efforts, directing scarce education dollars to the classroom, this bill gives us a more responsible international economic policy by reforming the IMF. When the President first asked Congress to provide money for the International Monetary Fund, many in this town expected us to give it away with no-questions-asked and no-strings-attached. But this House said 'Wait a minute.' By allowing time for deliberation, we have furthered a debate that I believe will transform our policies in the world economy. Because of our decision, the IMF is now a thoroughly chastised institution and everyone from Henry Kissinger to Tony Blair to Milton Friedman and George Shultz now agree it must be radically changed. This bill is a first step. The IMF reforms in this bill, while much less than I would have preferred, are significant. For the first time, the IMF will be required to open its books to the public and expose itself to taxpayer accountability.”