Smith: No Bailout On The Backs Of Our Troops

Statement

By:  Lamar Smith
Date: June 17, 2009
Location: Washington, DC

Smith: No Bailout on the Backs of Our Troops

Congressman Lamar Smith last night opposed the Conference Report on H.R. 2346 - the Supplemental Appropriations Act of 2009 because it shifts $5 billion from American troops in order to give the International Monetary Fund (IMF) for a global bailout. It narrowly passed with 32 Democrats voting against it. Smith issued the following statement:

"It's unconscionable that this legislation cuts the House level of funding for our troops and turns around and gives that money to the IMF. Because of this bill, Iran will be eligible to receive $1.8 billion in guaranteed IMF assets even as its government continues to build nuclear weapons.

"The task here was simple: write a bill to fund our service men and women who are bravely performing the duties overseas. I don't understand why it's so difficult for the Democratic Majority to bring forward a clean troop funding bill without wasteful spending and bailouts.

"The Democratic-controlled Congress already passed the stimulus, which was the biggest spending bill in American history. They passed several bailouts, an enormous omnibus spending bill, as well as the most costly budget in American history.

"It seems that the Democratic Majority is in favor of increased spending in every way conceivable except when it comes to the critical troop funding for the Department of Defense and Military Construction. They had the opportunity to pass a bill that supports the troops. Instead they passed a global bailout on the backs of the troops."