One Hundred Billion Goes To IMF: Money U.S. Taxpayers Will Likely Never See Again

The U.S. Senate will include President Barack Obama‘s request for up to $100 billion for the International Monetary Fund in its bill to fund the wars in Iraq and Afghanistan, Senator Judd Gregg said on Wednesday.

Obama asked Congress for the aid to help countries weather the global economic crisis. He also wants to increase the U.S. contribution to the IMF by $8 billion and is asking for support of the IMF’s planned 13 million ounce gold sale.

Gregg is a Republican on the Senate Appropriations Committee, which is expected to vote on those requests on Thursday as part of a bill to fund the U.S.-led wars in Iraq and Afghanistan, legislation widely expected to pass.

The legislation for the war funding is considered a must-pass measure so including the IMF aid in the bill will ensure the funding gets approved.

The U.S. Senate will include President Barack Obama‘s request for up to $100 billion for the International Monetary Fund in its bill to fund the wars in Iraq and Afghanistan, Senator Judd Gregg said on Wednesday.

Obama asked Congress for the aid to help countries weather the global economic crisis. He also wants to increase the U.S. contribution to the IMF by $8 billion and is asking for support of the IMF’s planned 13 million ounce gold sale.

Gregg is a Republican on the Senate Appropriations Committee, which is expected to vote on those requests on Thursday as part of a bill to fund the U.S.-led wars in Iraq and Afghanistan, legislation widely expected to pass.

The legislation for the war funding is considered a must-pass measure so including the IMF aid in the bill will ensure the funding gets approved.

Read the rest from Reuters:
http://news.yahoo.com/s/nm/200905
13/pl_nm/us_obama_congress_imf_1

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