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Hatch Touts Legislation Preventing Taxpayer Bailouts of Foreign Countries on Fox
Utah Senator Says, “We’ll be 190% Of GDP by 2035 if we keep on this current Obama schedule. When are we going to wake up and realize we cannot live with that and remain even partially the greatest country in the world. We are hurting ourselves. Sooner or later we got to say the game is up.”
WASHINGTON – U.S. Senator Orrin Hatch (R-Utah), Ranking Member of the Senate Finance Committee, appeared on “On the Record w/ Greta Van Susteren” last night to discuss his efforts to prevent bailouts of foreign countries, including heavily indebted Greece, by U.S. taxpayers.
In 2009, at the urging of the Obama Administration, the International Monetary Fund (IMF) was provided access to additional funding of up to $108 billion which can be used to bailout foreign countries. Hatch has joined U.S. Senator Jim DeMint (R-S.C.) to introduce S. 1276, legislation to rescind the authorization. The lawmakers also filed an amendment, the Anti-IMF Bailout Amendment, which is pending in the Senate and could be voted on as soon as next week.
The following are excerpts from the interview:
On Tax Evasion in Greece:
“The problem is that so many people are on the dole in Greece. We are getting there too. Used to be only 40% of households didn't pay income taxes in this country. With two years under [President] Obama it is now 51%. Headed towards 60%, which is Europe revisited. That's what this administration is doing. The same thing that happened to the profligate people in Greece.”
On IMF Bailout of Greece:
“We just heard that by 2035 -- we heard if we follow the Obama [Administration’s] approaches that’s happening right now - our debt will be at 190% of GDP. Greece right now is somewhere around 150%. That gives you a little bit of perspective what going to happen to us. They call upon us at the IMF to come up with billions when we have our own economic difficulties to handle. Then again, the Europeans don't know what to do either. They don't want to pay any more. They are afraid if Greece goes down a lot of other countries will too.”
On a Default of Greek Debt:
“It may be the only way Greece will realize they have to live within certain restraints and revamp their whole role of government. There are too many people on the dole there. The United States [is] going in the same direction under this administration.”
On the Debt Crisis in the U.S.
“And then I just told you that we’ll be 190% Of GDP by 2035 if we keep on this current Obama schedule. When are we going to wake up and realize we cannot live with that and remain even partially the greatest country in the world? We are hurting ourselves. Sooner or later we got to say the game is up.”
Click HERE to view Senator Hatch’s Interview.
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