Posted on 06/07/2011 12:57:07 PM PDT by Beave Meister
The U.S. is providing hundreds of millions of dollars of foreign aid to some of the world's richest countries - while at the same time borrowing billions back, according to report seen by Congress.
The Congressional Research Service released the report last month which shows that in 2010 the U.S. handed out a total of $1.4bn to 16 foreign countries that held at least $10bn in Treasury securities.
Four countries in the world's top 10 richest received foreign aid last year with China receiving $27.2m, India $126.6m, Brazil $25m, and Russia $71.5m.
Mexico also received $316.7m and Egypt $255.7m.
And yet despite the massive outgoings in foreign aid, the receiving countries hold trillions of dollars in U.S. Treasury bonds. Sen. Tom Coburn
Concerned: Senator Coburn said the policy was 'dangerous'
China is the largest holder with $1.1trillion as of March, according to the Treasury Department.
Brazil held $193.5bn, Russia $127.8bn, India $39.8bn, Mexico $28.1bn and Egypt had $15.3bn.
(Excerpt) Read more at dailymail.co.uk ...
This story has been floating around for about a week but no one in the US MSM has touched it.
Stupid stupid government.
It’s time for pitforks and torches. No pensions. No Private Healthcare Plans. Audit the Fed. Seal the border. Ban all lobbyists. Term limits. Cut 50% of all govenrnment at all levels.
These idiots are killing us.
There must be a time to say, no more. It’s friggin over.
It’s time for pitchforks and torches. No pensions. No Private Healthcare Plans. Audit the Fed. Seal the border. Ban all lobbyists. Term limits. Cut 50% of all govenrnment at all levels.
These idiots are killing us.
There must be a time to say, no more. It’s friggin over.
You can say that again.
These morons belong in jail...they’re unfit to run other people’s money - and unfit to run other people’s lives. A bunch of crooks, perverts and idiots.
Thank goodness the U.S. government is never too poor to give away billions of our hard earned money.
If more cuts were made to old folks Soc. Security checks there would be even more money to give away.
Congress should pass legislation to suspend ALL foreign aid, including contributions to the hoax that is the United Nations, unless specific giveaways of US taxpayers’ dollars are individually approved by Congress.
Greatly understated! Here is one example, what happened to the $2 Billion Obozo gave to Brazil to do offshore drilling, using the rig that vacated the Gulf because Obozo banned drilling for a period of time, unknown and uncertain then?
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