When is a bailout not a bailout?
When Trump gives billions of dollars to bail out his right wing foreign buddies, which includes interfering in foreign elections.
Scott Bessent pretended the US isn’t bailing out Argentina by describing some monetary chicanery to do so.
WELKER: The Trump administration recently extended a $20 billion lifeline to Argentina that has gotten some bipartisan criticism, Mr. Secretary, including from Congresswoman Marjorie Taylor Greene of Georgia.
I’ll read you a little bit of what she wrote. She says, quote, Americans are getting decimated with high cost of living and skyrocketing insurance costs. Many of them have zero savings and some are maxing out credit cards to survive.
Tell me how it’s America first to bail out a foreign country with 20 or even 40 billion taxpayer dollars.
How is this move America first, Mr. Secretary?
BESSENT: Well, Kristen, it is America first because we are supporting a U.S. ally.
There will be no taxpayer losses.
This is a swap line.
This is not a bailout.
And it is from the Exchange Stabilization Fund, which I control at Treasury.
If the US gives another country 20-40 billion dollars to attempt to rescue their economy, that is a bailout. No matter how the Treasury Secretary moves the money around.
Spending federal funds is under the purview of Congress, but the Republican controlled Congress refuses to conduct any oversight or most of their functions.
There is no House of Representatives at this point.
