BONO MACK SAYS NO TO EURO BAILOUTS, SUPPORTS BILL TO PROTECT TAXPAYERS

Palm Desert, CA – Following the introduction of H.R.  5299, “European Bailout Protection Act”, by Representative Mike Pence (R-IN), Congresswoman Bono Mack (CA-45) issued the following statements supporting the bill, which is aimed at preventing taxpayer dollars from bailing out European countries like Greece.

“The American people are fed up with out-of-control spending in Washington and should not be forced to bailout European countries like Greece with their hard-earned tax dollars.  Our first priority should be getting our economy back on track by creating jobs for the American people.  The proposed bailout is more of the same and will only bankrupt our future with wasted spending and debt.

“I support the European Bailout Protection Act and applaud Representative Mike Pence for his hard work in crafting this important piece of legislation.”

H.R. 5299, “The European Bailout Protection Act”, prohibits the United States from participating in the proposed European bailout by cutting funds to the IMF until all EU nations comply with the debt to GDP ratio requirement.  This legislation also requires Treasury Secretary Geithner to oppose all IMF loans to EU nations until the EU countries are in compliance.

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