Obama's IMF Boost Exacts Heavy Toll |
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June 15,2009
Congress is this week expected to approve Barack Obama's request for an extra $108bn for the International Monetary Fund, but it will come at a political price after weeks of grandstanding, messy compromise and horse-trading.
Congress is this week expected to approve Barack Obama's request for an extra $108bn for the International Monetary Fund, but it will come at a political price after weeks of grandstanding, messy compromise and horse-trading.
The request, tacked on to a $100bn (€71bn, £60bn) war funding bill, provoked a backlash in Congress as Republicans and some Democrats balked at what they called another bail-out, this time for foreign countries and banks. The administration had thought putting it in the war funding bill would speed its passage: which Republican would vote against money for US troops? But the move backfired and the administration spent last week scrambling for votes.
To win over a crucial group of liberal Democrats, it killed off an amendment that would ban the release of photos showing US military personnel abusing detainees. This brought the votes it needed but upset moderates and conservatives, who agree with Mr Obama that their release could spark retaliation against US troops.
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