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Freedom Fighters Liz MacDonald, Robert Zimmerman, and Anthony Randazzo on why the U.S. isn’t on board with the IMF’s plans to bailout an entire co...
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Tonight United States is probably resisting helping the International Monetary Fund and its efforts to expand its emergency bailout fund.
By a whopping one trillion dollars.
The IMF hopes to shield the rest of the world from Europe's economic woes and says -- do so with more cash.
US treasury officials responded to the news of the IMF's lazy latest easy money scheme by simply stating quote.
Europe has the capacity to solve its own problems almost sounds like Ron Paul than Tim Geithner what's going on behind the city.
And it's got so my freedom fighters Fox Business stocks editor and my colleague Elizabeth MacDonald.
-- -- Robert Zimmerman democratic strategist and -- Anthony -- as a reason foundation.
Director of economic risks that are.
All right you've got a kick out of my idea out of my one -- I -- reports of -- President Obama agrees with you or are you will -- -- the Democrats agree that enough is enough with respect to the IMF they like these big -- International Monetary Fund it's like accountability.
And we have a situation here where Europe can pay their own way to get out of their own situation and they can restructure if they have to.
Under the president's friends of democratic position and the hope Republicans can stop open door and is there are a way that.
Here bureaucrats socialist European get their hands -- some American cash notwithstanding President Obama Tim Geithner sure if all of the the famous secret fed loans -- if -- financial institutions here in the US the Fed is giving money to -- ECB which is then giving that money loaning that money for really cheap to European banks which they -- by the that if European countries that's US money that winds up bailing out your paint a -- of President Obama went along with that audit the Fed stuff that Ron -- -- we might.
Up -- those people in Europe think that they can just spend their way he.
Out of these problems is is the culture in Europe such that it will never change until there is a revolution.
I'm now about a revolution that has been the culture and -- has -- the culture.
With the IMF bailouts dating back to this seventies when you know the -- -- -- that the UK and Italy.
-- easily bailing out tax and spending their way to prosperity kind of ideology is and also that happen under a Republican administration also Republican administration in the -- yet when they IMF's bailed out Latin America also tax and -- a malfunctioning bond market right now we've got refi is coming down for government bonds.
Europe is chasing it's own tails I don't think government US government money should be in this until they do -- five they with the IMF has done in the past restructured they did with Indonesia and Thailand.
-- it does does Barack Obama as you know him have the puts political Ben Bernanke and say no don't to what it -- and that's of fears that you might do don't give those your cracks.
A federal cash.
I don't I don't speak for Barack Obama wouldn't pretend to try to read his mind but as you -- As I know -- positions really clear and I'm not one -- all due respect for conspiracy theories especially the -- -- -- -- about this and I.
And is there any European.
I think this position is clear his position has always been I'll make these big.
Bold statement and then fill in the blank -- that's not a price at all -- position on this has been -- -- right originality is not.
-- -- has been Europe Europe and I'll see you mouth when I see it I will believe that you -- The -- you can Google it -- New -- -- It is Genentech airports on problems more than that we are not putting US money into the IMF to bail out Europe.
It's who will -- -- really -- you know -- we the president can't control the Fed switching gears -- Yes I have been ranting and raving about this for two days -- pockets of a symbolic vote rejecting the president's request to increase our debt ceiling to the tune of another one point two trillion.
Of course they can afford to stand on principle this time since the debt deal they brokered in August guarantee that no matter what happens in their phony vote.
The president will be able to raise the debt cap anyway -- I'll tell -- about the merits.
Of raising -- we went through that and August and talking about the charade of last night.
How can the absent the House of Representatives -- this fast -- honest to make its victory against something after they were in favorite pick ample fast form and any of us because we know that but was a fraud.
And very frankly the whole debt ceiling debacle the -- that through negotiation and the super committee with a disgrace and the bottom line is we're gonna deal with the debt ceiling next year.
And that's when really the rubber really meets the road and we focus on governing by raising the definitely.
What can we do here for people like you and -- most people watching -- Anthony.
Who believe that that the government will collapse if it continues to borrow a trillion more a year and spend a trillion a year more than that -- -- after we stop this was the only way is different people on Washington -- all the arguments are out there and everybody Capitol Hill has heard arguments -- size and simple reality is -- the people -- making the ultimate decisions -- -- political decisions and they are ignoring the reality of our unsustainable debt GMAC where US scandalized desire was that has so many Republicans who went along with the democratic debt increase in August.
Concocted this phony issue -- now until I was -- -- the against big government whereas a reality they have funded big government he had.
Hypocrisy evidence though is quite alarming and you know it's so easy to be patriotic means -- other people's money.
Up -- the bid liabilities of the government the -- -- Medicare 65 -- that's about the size of the entire planet's GDP and I tell you something it's called keep irrational hope alive when you think you can spend like.
And I was regulated -- apparently on some sex is there any way to prosperity -- that would that -- goes -- Bob -- with some Bob we would be a triple -- country and the Soviet Union.
Probably -- there and our pentagon -- -- Robert half of them are currently I've heard these type of games.
We're members of congress can hold symbolic votes they go home EC I was against the debt ceiling we -- -- they really voted triggered.
This is typical of Washington is it worst today.
Under Barack Obama is or is this the way government as a -- small symbolic votes -- Institutional in the congress -- I they've always been posturing but now it's more severe under John Boehner speaker of the house okay I'm more symbolic because it's about exploiting and about exploiting the crisis is -- -- is this about well gonna happen in the senate as well.
I think so the reality is one not even sure it's gonna come to a vote in the senate the bottom line is that we talk -- -- about patriotism but America not paying its bills that -- unpatriotic.
We are because until I was Florida will assume pretty nicely and as it might cite any debt is unpatriotic eleven and -- is there.
If there given the -- -- -- about twenty.
It's legally dependent right now on the fact that US treasuries are still attractive because everybody else is in crisis the moment that the US treasuries -- attractive then this whole house of cards Anthony -- dancer Robert Zimmerman my my favorite.
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