00:00...to another big issue.
00:02The Trump administration recently extended a $20 billion lifeline to Argentina
00:07that has gotten some bipartisan criticism, Mr. Secretary,
00:11including from Congresswoman Marjorie Taylor Greene of Georgia.
00:14I'll read you a little bit of what she wrote.
00:16She says, quote,
00:17Americans are getting decimated with high cost of living and skyrocketing insurance costs.
00:23Many of them have zero savings and some are maxing out credit cards to survive.
00:28Tell me how it's America first to bail out a foreign country with $20 or even $40 billion taxpayer dollars.
00:37How is this move America first, Mr. Secretary?
00:43Well, Kristen, it is America first because we are supporting a U.S. ally.
00:52There will be no taxpayer losses.
00:55This is a swap line.
00:56This is not a bailout.
00:58And it is from the Exchange Stabilization Fund, which Treasury, I control at Treasury.
01:06It has never registered a loss.
01:07It is not going to register a loss this time.
01:10We are supporting a U.S. ally in Latin America.
01:15And we want to set the tone in Latin America because look at what's going on in Venezuela.
01:19It is a failed narco state.
01:23And I'm a big fan of Marjorie Taylor Greene.
01:29I think she's a fantastic voice in Congress.
01:32And please let me finish.
01:34So we think it is much better to use American economic power up front to stabilize a friendly government and lead the way because we've got many other governments.
01:46We've got many other governments in Latin America, Bolivia, Ecuador, Paraguay, who all want to follow.
01:53So I would rather extend a swap line than be shooting at the boats carrying drugs.
02:00As we're having to coming out of Venezuela.
02:02Well, you take me to.
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