What is the US congress considering doing?

Raise the debt ceiling to loan the EU a trillion dollars in bailout.

Of course we will give it to the IMF to pay out.

This was last years debt ceiling raise was used for

The Honorable John Kerry

Chairman

Senate Foreign Relations Committee

218 Russell Senate Office Building

Second Floor

Washington D.C. 20510

Dear Chairman Kerry:

We write to express our concern over a possible amendment that would break America’s

commitment to provide supplementary financial support to the International Monetary Fund (IMF)

under the New Arrangements to Borrow (NAB) in times of crisis. The amendment is very untimely

and perhaps even dangerous; it is a breach of international agreements upon which the United States

(U.S.) itself very much depends; and it is based on the fallacious notion that U.S. taxpayers will incur

new costs.

Amid persistent global economic uncertainty and prevailing downside risks, it is critical to

retain the U.S.’ pledge to the NAB to provide the IMF with a backstop for additional resources in the

event it falls short of its main source of financing derived from member countries’ resources (quota

subscriptions). The IMF can lend these funds to beleaguered countries in return for fiscal and

budgetary reforms designed to help them return to stability. When this happens the entire global

system benefits with renewed trade and investment and financial stability.

While it was agreed in 2010 under the IMF governance reforms that quotas will be doubled,

thus increasing the IMF’s principal financial resources by 100 percent to about $755.7 billion, this

will not take effect until October 2012. Therefore, it is vital that the NAB remains intact as the

facility of first and principal recourse to supplement the IMF’s main resources by up to about $586

billion, particularly as the fragile global recovery is continuously threatened by high unemployment

and sovereign debt problems, as well as fears of the turmoil spreading beyond the European

periphery becoming more palpable.

http://www.brettonwoods.org/uploads/pages/224/Keep...

The US Congress ceded their power with the acceptance of a super committee.

With the lowest Congressional approval rating in history, I would guess, anger us more. They are going to try to limit our freedoms further and make us pay for it.

Borrow another 1.5 trillion to pay the interest on the debt

http://www.washingtonpost.com/blogs/44/post/after-...

The same thing they have been doing.

Nothing.

what they do best nothing