Editore"s Note
Tilting at Windmills

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June 16, 2009

BOEHNER'S BUMBLING IMF BLATHER.... House Minority Leader John Boehner (R-Ohio) is leading his caucus in opposition to funding for U.S. troops this week, based on money in the spending bill for the International Monetary Fund. To fund the IMF, the GOP leader says, is to support a "global bailout."

It's interesting, then, to take a closer look at Boehner's record on the issue.

That wasn't Boehner's tune in 1998, when the Clinton administration requested $18 billion in IMF funding to ameliorate the effects of the Asian financial crisis.

"I have been as critical about the IMF as many, but given the crisis we have around the world, the U.S. needs to provide leadership," the Ohio Republican told the [Newark, N.J.] Star Ledger in Oct. 1998. "The only real avenue is the IMF."

His comments were in keeping with the rest of the House GOP leadership at the time, including then-Speaker Newt Gingrich, who said the US had "an obligation to work with" the fund.

A Boehner spokesman responded that the "world of 2009 is very different from the world of 1998." That's true -- the IMF investment is more important now.

Indeed, let's not brush past that too quickly. Yes, it's ridiculous to see the House Republican vote against funding the troops during two wars. And sure, it's great to contrast his opposition to IMF funding now with his enthusiastic support for IMF funding a decade ago.

But Boehner's argument, in addition to being hypocritical and dishonest, is also wildly wrong and irresponsible. As Matt Yglesias explained earlier, "It now looks like [the global economy] might start getting better. But it's possible that some "other shoe" or two may drop -- most likely the meltdown of an Eastern European country -- and the IMF exists to stop that kind of thing from happening."

Boehner's failure works on several levels.

Steve Benen 2:35 PM Permalink | Trackbacks | Comments (8)
 
Comments

Nobody likes the IMF. At some point, you right wing democrats should spend more time trying to figure why that is, and less time telling those of us who have actually been paying attention that the IMF is somehow a force for good or even financial stability.

How it performed in that asian crisis, for instance, proves that the last thing a sane country would do is go looking to the IMF for help.

Posted by: soullite on June 16, 2009 at 2:45 PM | PERMALINK

I'd give anything to never have to see or hear this blithering bronzed hangover ever again. Anything.

Posted by: The Galloping Trollop on June 16, 2009 at 2:53 PM | PERMALINK

"Yes, it's ridiculous to see the House Republican vote against funding the troops during two wars."

Ridiculous because of their hypocrisy?

Cuz if that is the only reason, what about left-wing pundits who also switched their stance with the changing of the presidents, now even seemingly using the same language the Republicans used?

Posted by: flubber on June 16, 2009 at 3:09 PM | PERMALINK

Sorry, but Boehner is somewhat correct on this.

First, the IMF funds shouldn't be part of the defense bill. It's stupid.

Second, I sure as hell don't like the idea of sending billions of OUR money to a group that has proven itself incapable of using it wisely. It's just not the right route to take, IMHO. Targeted aid to specific nations for specific reasons would be better.

And thirdly, no way in hell any Dem should vote on the defense bill without a real timetable for withdrawal. Period.

Sorry, but the only thing wrong with Boehner's stance is his stunning hypocrisy. On the merits, the bill is crap as it stands right now and it should be re-written.

Posted by: Mark D on June 16, 2009 at 3:28 PM | PERMALINK

It's funny that Yglesias uses the "other shoe" line- I picked up some LaRouchePAC pamphlet on the way home the other day (for a laugh), and it used the same phrase regarding international economic collapse.

Of course, that was Lyndon, so I gather that /his/ "other shoe" was caused by Queen Elizabeth in a SAS suit with black facepaint, a rocket launcher, and a jet full of heroin flying to secret underground lair near guam to have sex with Kim Jong Il, and Al Gore is there making a sandwich.

Posted by: KilgoreTrout XL on June 16, 2009 at 3:48 PM | PERMALINK

No offense Steve, but I am pretty sure I could find a couple posts at the Carpetbagger discussing non-sense attached to a troop spending bills and why it should be held up or at least have the non-sense removed. Whether it is non-sense or not is debatable, but if someone thinks it is, they should say so. Boehner is a tool, but in this instance I don't see what wrong he's done.

Posted by: ScottW on June 16, 2009 at 4:12 PM | PERMALINK

Sorry. Kill the IMF. It was setup, and is operated, as a Friedmanesque means of divesting its victim countries of all its natural resources, handing them over to Western corporations and a tool to kill social safety nets in victim countries.

Please ponder that virtually every S. American country that was a victim of IMF "aid" has since eliminated the rightwing governments that sprang from, or were supported by, the IMF. Every one of them have ejected the IMF "formula" of no social safety nets, no universal healthcare, no unions, no public education, and sell sell sell ALL your land and resources to corporations.

The IMF is a disease that must be wiped out. NOBODY wants IMF help. The Asians saw what the IMF did during the Asian financial crisis of 1997 and they reacted strongly to avoid EVER seeking IMF aid. The IMF is NOT about helping or saving countries, it is only about stealing and raping countries for the sake of western corporations and governments.

Posted by: Praedor Atrebates on June 16, 2009 at 4:33 PM | PERMALINK

You IMF-bashing buffoons, the only sensible policy prescriptions for the US today are coming from IMF guys like Simon Johnson. Nobody else is addressing our pervasive corruption. If the IMF was here in force we wouldn't be fellating parasitic bank vampires like we are. IMF gets blamed for a lot of stuff that was going to happen anyway. They also get blamed when sensible reforms get hijacked by the developing-country equivalent of Jamie Dimon and Vikram Pandit. This anti-IMF shit comes from people who never read a PRSP, who wouldn't know one if it bit them on the ass. You don't know what you're talking about.

Posted by: boner on June 16, 2009 at 5:58 PM | PERMALINK




 

 
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