Congressman Tom Price (R-GA) issued the following statement urging the Obama administration not to allow the International Monetary Fund (IMF) to bailout Greece and other European nations with American tax dollars. The United States is the largest single contributor to the IMF.

“Americans want to end the bailouts we already have, not turn them into our next major export,” said Congressman Price. “European nations spent far too much money for far too long, and now they want American taxpayers to pick up the tab. Forcing American taxpayers to backstop the economies of Europe will only prolong the problems gripping the continent and allow politicians to put off the long-term restructuring that must occur. Both the U.S. and Europe need to get their fiscal houses in order, and papering over the problem with handouts is not the leadership expected from free people.

“The massive debt problems in Europe are a wake up call and clear sign of where the Democrats’ unsustainable path of spending and debt will inevitably lead. We must make a serious change of course today. If the U.S. fails to heed Europe’s warning and requires its own bailout in the coming decades, don’t expect money to come flowing in from abroad. It’s time for America to end the bailouts and stop imitating the reckless policies that are sinking Europe.”