Rep. McMorris Rodgers & IMF Director Lagarde Meet to Discuss U.S. Role in European Bailouts
Washington, D.C. – Rep. Cathy McMorris Rodgers (R-WA), Vice Chair of the House Republican Conference, met with IMF Managing Director Christine Lagarde today to discuss America’s growing role through the IMF in the European bailouts. This was the first meeting between Madame Lagarde – who assumed the IMF’s top position in July – and Rep. McMorris Rodgers, Congress’ leading opponent of U.S. participation through the IMF in the European bailouts. After the meeting, Rep. McMorris Rodgers released the following statement:
“I’m glad that Madame Lagarde and I had the opportunity to meet today to discuss America’s role in the IMF’s bailouts and how we can work together to resolve the global debt crisis and build a stronger foundation for economic growth – in America, Europe, and throughout the world. As I told Madame Lagarde today, at a time when America is experiencing the longest streak of high unemployment since the Great Depression and adding over a trillion dollars every year to our $15 trillion debt, Congress and the American people are growing increasingly alarmed by America’s growing involvement in the gathering storm of European bailouts. While America appreciates its responsibilities as the world’s economic leader, a good case can be made that America would best serve our European allies by abstaining from these bailouts because it would help them to enforce the spending and borrowing discipline that both Europe and America need.”
“With the European debt crisis continuing to dominate the news – and threatening to pull the world into a double-dip recession – I know this is an issue that will continue to grow, and so, I look forward to continuing the dialogue with Madame Lagarde on the effectiveness of the IMF’s policies and how America can play the most constructive role going forward.”
Rep. McMorris Rodgers is the author of H.R. 2313 which would rescind the IMF’s authority to spend up to $108 billion of U.S. taxpayer money that is currently available to fund the European bailouts. In the last two weeks, the number of cosponsors of the bill has grown from 22 to 85.