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Well you're being judges meeting today to finalize the great -- first since switch companies to big to -- Now it's which entire country is today the fell well rescue -- now lots of other countries in the world are I want you to check out this snapped.
These are all countries that -- could need to -- that helps them.
Now the brighter the color.
The darker the debt problem Italy Spain Portugal Japan -- those are just some of the vulnerable ones so.
Good chocolates in Belgium I say save them.
Cathy McMorris Rodgers says not a penny for any of them.
Even Belgium congress -- all the good chocolate -- letter read.
Like six -- it's just the reality that.
America is suffering from bailout fatigue in the last two years we have spent tens of billions of dollars bailing out Wall Street Fannie Mae Freddie Mac Chrysler GM.
And what we we don't have the money now to.
Go out and bail out the European countries consider were running these record deficits ourselves one point four trillion dollars this year.
Or borrowing 43 cents on every dollar so.
We're gonna continue to borrow from China so we can bail out European country.
-- fair we're doing it through these international lending agencies like the IMF and the world bank of which we're obviously premier members being who we are.
But it's not as it is a direct.
Hit -- you're saying regardless stopped.
I I would like to see the European Union that was actually organize to be an economic competitor the United States.
Figure out how they're going to address -- the debt that they're running in so many of their their countries.
And I understand it means difficult decisions it means tightening their belts they eat you take Greece for example they've had very generous.
Benefits where there employees in four -- the government and and what they need to do is impose stricter spending caps.
They need to.
In -- entitlement reform and they need to implement pro economic growth policies and not just -- America and other countries around the world to bail them out after they've had.
Really out of control government spending at some point we have to say that -- this have to stop that is not sustainable -- -- I think -- on -- The Treasury Secretary about the spirit that.
We haven't heard back yet and and America is a big contributors largest contributor today I am math.
And that the deal that is currently being considered is that it said an agreement between the IMF and the European Union.
To bail out -- we contribute about 70%.
Of the money today IMF.
So American taxpayer dollars will be very much involved in in bailing out Greece and there's.
A growing concern that this could just be the beginning this 145 billion for Greece.
Would very possibly be.
Followed up by even more for grief as well as these other countries that are facing very difficult -- also don't have -- Again these are lending again these are lending agencies is not the US government doing but I understand the gist of your point guards and my guess what I like to know about.
And if you argue against all those ballots that we've seen on.
And now what could be development grace and other countries to follow.
Then if you haven't already TR -- is this holiday for everybody else.
And it was the one firm we didn't say in 2008 Lehman -- -- that I remember -- -- have because.
Treasury Secretary Paulson of the time was today are -- bailing out everybody I got a cool and Lehman is the one to cool.
So we didn't rescue Lehman and then come home and -- And I guess what -- ask you you're right we'll never know and I'm against these -- and rescues as well but.
You're always gonna wonder.
Happens when you just say no to everybody I mean is -- just a global free fall because people for these things say.
You know -- exactly what -- get.
A global free fall.
This is these Arab governments now that we -- talking about bailouts for so these are these Arab governments that had been spending beyond their means -- America.
I'm very concerned about the we're headed down the same path is grief.
-- found itself in a situation where it.
It's debt is public debt was a 113%.
Of its GDP they'd taken on all this data -- an expanded programs.
An an America is headed down this same path if if governments don't start tightening their belts implementing balanced budget and and prioritizing and and starting to say you know what we can't go for it.
Just -- -- and and these bailouts for everyone it I don't see where it's going to stop terrorism let's close to appreciate and am.
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