Obama Wants U.S. to Loan $100 Billion to Global Bailout Fund

cnsnews ^ | May 21, 2009 | Marie Magleby

[Mozilla]

(CNSNews.com) - President Obama has asked Congress to authorize $100 billion in loans to the International Monetary Fund (IMF) to help create a $500 billion global bailout fund.

If passed by both the Senate and the House, the bill would allow the IMF to borrow up to $100 billion from the U.S. and increase the U.S. fiscal contribution to the IMF by $8 billion.

“It’s a new appropriation,” Rob Blumenthal of the Senate Committee on Appropriations, the committee that drafted the bill, told CNSNews.com.

But the move is questioned by some lawmakers who are skeptical about lending money when the nation’s debt continues to climb – and who are concerned about the fact that the U.S. will have to borrow the money at some point to pay the $100 billion.

[Mozilla]

Amazing. Spend even more money to bailout who and for what?

Global Bailout plan? This is a joke and sadly all too real.

They just keep on bankrupting the Country.

[stboz]

Somebody tell me when this steaming pile has left the room....meantime, I’m quiting society.

[MaxMax]

Funneling money to his uncle?

[tina07]

Where can I get me one of these neverending money trees? geez.

I cannot fathom the hell that is upon us. ‘Something wicked this way comes’ is all I keep saying to myself.

[CGTRWK]

President Kenya wants to funnel more of our money to the third world. Imagine that.

[Extremely Extreme Extremist]

Downpayment for the NWO

[KosmicKitty]

Hey, no problem - just got to print up a bunch mo’ money!!

[jersey117]

They just keep on bankrupting the Country.

At some point the MSM has to wake up and tell the people what's going on. They have a responsibility to do so. Maybe when obama comes after their assets they'll start to get it.

[tobyhill]

If it's a loan using taxpayer's money then I want 30% interest.

[mojitojoe]

Stop giving them money. It’s the only way to stop it. be creative, there are so many ways around it. Why do you think the govt. got a fraction of what they got in taxes last year? It has already started..........silently, but it has started.

[fanfan]

What’s he going to back the loan with?

Spitballs???

[hosepipe]

Socialists ever since Marx have wanted a World Wide Socialist ugh!.. "REPUBLIC"..
Only to become a democracy which will be, as always, MOB RULE..
Mob rule by mobsters.. you know LIKE NOW.. in most countrys..

Thats why? Barry Half-White is singing the Socialist Song..

[JasonC]

"to bailout who and for what"

Eastern Europe mostly, also third world commodity-exporter economics not blessed with oil.

Our banks and European banks lent them lots of money in the bubble and they can't pay it back. If the IMF lends to them in the smash, said bankers are made whole, and the IMF gets paid back much more gradually. If instead we play "beggar thy neighbor", guess what? Debtors don't pay anything when they default, their creditors do. Their creditors are us...

[Russ]

Does this lunatic even know what a billion dollars is? This is really getting scary and the MSM is asleep at the wheel...

[JasonC]

Dream on - hell will freeze first...

[Gone_Postal]

What’s he going to back the loan with?

Spitballs???

Spitballs...Nope..... your paycheck...

[jimfree]

Waste, graft, corruption, slush.

[Lou Budvis]

No problemo. Just fire up the printing press. It’s all funny money at this point.

[Lockbar]

"Funneling money to his uncle?"

Same thing I was thinking. These two losers from Chicago are going to have a sweet nest egg.

[madison10]

No, no, no, stop handing out OUR money!More specifically stop handing it out to people who are NOT our friends.

Dear Lord, save us from these idiots!