The Hill News

Former Prime Minister Margaret Thatcher once said, “The problem with socialism is that you eventually run out of other people’s money.”  That’s true, and in the case of Greece and the European Union, decades of “spend and borrow” economic policies have created a dangerous debt crisis which has put the entire Continent on the brink of bankruptcy.  To keep the government spigots flowing, the European Union has requested a $360 billion bailout from the International Monetary Fund.   What many people don’t realize is that the United States is the largest contributor to the IMF.  That means over $60 billion of U.S. tax money will be funneled through the IMF to the European Union to prop up failed socialist policies that have become too expensive to pay.  In fact, the cost to U.S. taxpayers may reach even higher.

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