WASHINGTON, D.C. – Montana’s Congressman, Denny Rehberg, today released the following statement regarding a new request that the International Monetary Fund (IMF) approve a new four-year $36.7 billion loan program for Greece. The IMF loan would be a part of a joint bailout package for Greece in an attempt to stop a default in Athens as a result of poor fiscal policy.
“When a government overspends, the consequences hurt the neediest people the most,” said Rehberg, a member of the Congressional Balanced Budget Caucus. “No one wants to see that happen, but we can’t help them by jumping into the abyss after them. I didn’t support the bailouts here at home, and I don’t think it’s a good idea to be bailing out foreign governments. I hope the IMF will hold an open vote on this proposed loan, and that the United States will oppose it.”
Last year, Rehberg introduced legislation with Congresswoman Cathy McMorris-Rodgers (WA-05) to block a U.S. Taxpayer funded bailout of Greece through the International Monetary Fund (IMF).
“The situation in Greece – and across the European Union – is a cautionary tale about the reckless path the United States has recently been taken down by President Obama and his Senate allies who want to solve every problem by throwing borrowed money at it,” said Rehberg.