Although Greece’s output is just three percent of the European Union economy, its financial collapse roiled continental markets and required an international bailout package. Imagine what would happen to U.S. markets if California, which is 17 percent of the national economy, experienced a Greek-style implosion. Far-fetched? Consider the similarities.
Post Tagged with: "Emergency Economic Stabilization Act"
May 6, 2010 04:27
U.S. taxpayers are helping finance Greek bailout
by Sen. Jim DeMint
G-20 Finance Ministers and Central Bank Governors asked the United States, the IMF’s largest contributor, for a whopping $108 billion to rescue bankers around the world and the Obama Administration quickly obliged. The Democrat Congress, aided by a few Republicans, used a war spending bill to send bailout money to an international fund that’s partially-controlled by our enemies.
