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Should U.S. Taxpayers Bailout the EU?
The U.S. bails out over-spending countries, banks in European countries

APPLETON, WIS.  – January 30, 2012 – Federal Reserve Chairman Ben Bernanke recently provided Europe’s central banks with cheap dollars to paper over their irresponsible spending.  In the most recent issue of The New American, Alex Newman describes the situation in Europe, the fallout here in the US, and how Americans will suffer. 

Newman’s article, “U.S. Fed Bailout of Euro Prompts New Push for Audit and Sound Money,” reports that many U.S. representatives are in an uproar over the idea that the U.S. has yet again bailed out countries with overspending in Europe.

Rep. Dan Burton (R-Ind.) states the following in the article, ‘The Federal Reserve’s decision to allow European banks to borrow American dollars cheaply, combined with the Administration’s action earlier in the week to double the United States financial contribution to the International Monetary Fund, is nothing more or less than a U.S. taxpayer bailout of Europe.”

Newman states, “According to experts, some of whom estimate the bailouts of recent years in the tens of trillions of dollars, the schemes will fail miserably − all while further damaging the U.S. economy and the dollar.”

Congressman Ron Paul, whose subcommittee deals with monetary policy and the central bank, was outraged by the bailout news.

“Paul is once again calling for, among other measures, a full audit of the Fed and eventual restoration of honest money,” writes Newman.

Paul claims the solution is simple, “Restore sound money.  It would help prevent wild government spending, unsustainable debt, and widespread economic manipulation by central bankers – all key causes of the current crisis.”

Please contact Hannah Brems to schedule an interview with Newman to discuss yet again another bailout and how it affects Americans.

The New American, which was established in 1985, is printed twice monthly and is also published online with new stories daily.  The New American is the essential news source for freedom-loving Americans.  It unearths the abuses of the principles of limited government, personal responsibility, and God-given rights.  The magazine is a wholly owned subsidiary of The John Birch Society.

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