Posted on 02/06/2005 11:06:26 AM PST by Dont_Tread_On_Me_888
The world's seven richest countries have agreed that up to $A100 billion in debts from 37 of the world's poorest countries should be written off.
British Chancellor Gordon Brown, a passionate anti-poverty campaigner who chaired the meeting in London, said the outcome was an important step forward for the alleviation of global poverty.
"It is the rich countries hearing the voices of the poor . . . showing that no injustice can last forever," he said.
Full article at link.
Being just is cancelling debt and turning it into charity/gift?
Why does America go along with Marxists like this British moron? Is the answer because we are as Marxist as the Euro-"peons"?
Any accountant or CPAs out there? I say the United States should be required to show the debt cancellation as an expense in FY 2006 budget.
If we convert a loan (Accounts Receivable--an asset) to charity by cancelling that debt, should it not show up as an expense?
Anybody out there on this forum who has worked at the OMB or in a capacity to know if our Budget never shows the true accounting for loans and forgiven debt? I bet debt cancellation is never shown as an expense in the year it is canceled.
This whole global welfare crap and debt cancellation is anti-American. American officials, the President and his advisors are America's worst enemies. America is last on the totem pole. "America First"? What a joke! We are giving away our treasury and can't even afford our own military programs (e.g. cutting back on the F-22).
Instead of chasing the next RAThergate false memo, FR members should be hounding the U.S. officials and President Bush to come clean and properly show the outrageous sums of taxpayer money we trash on third world black holes and reflect it properly on the U.S. budget. Our deficit is far worse than is being shown. Can anybody dispute this?
If American taxpayers don't foot the bill, then Dubya's corporate cronies can't sell anything to these corrupt, undeveloped nations.
I always wonder if these loans have had their principal paid or mostly paid off...and they are just writing off interest in exchange for trade gains.
Hahahaha!....Yeah, cancelling the debt will sure put $$$$ in the pockets of "the poor" alright. BWAHAHAHA!!!
FMCDH(BITS)
Example: Ethiopian Airlines to buy 10 Boeing 787 Dreamliners
I just discovered that the bank that holds my mortgage has assets in the billions, compared to my paltry thousands.
Obviously, they should immediately forgive my debt.
Who's with me?
Your fears are the tip of the iceberg.
Ok...let's "forgive" their debt. Then I never want t hear another damned thing about helping the Third world.
Wouldn't it be better for America if we just forgave the mortgage debt of every American facing bankruptcy or foreclosure?
I doubt it.
I doubt it because we never get a proper accounting of it.
We are the taxpayers. We should have a right to a proper, clean balance sheet and income statement. The U.S. Budget, if it were in the private sector, would be found in violation of generally accepted accounting principles and be prosecuted for outright fraud. The officals responsible would be in jail like a bunch of Enron criminals.
The entire use of taxpayer funds is a giant fraud. There is no simple and clear showing for the Americn citizens how this money is spent.
Show me where debt cancelation is accounted for in the U.S. Budget! We are all being defrauded and most taxpayers are apathetic about this. No wonder why we are sliding down a greased tube.
That would not happen.
In America, Americans are treated like third class worthless slugs and foreigners are treated like royalty.
I live in Florida. Do you know how many Floridians still have not had their places repaired yet from the hurricanes? We are being charged "low interest loans" and have 30 years to pay it back. Do you honestly believe this will ever be forgiven debt?
We gave $350 million in charity to tsunami nations--free money--but Floridians are charged loans.
Americans are treated like dirt in America compared to the way we throw money at foreigners.
There are examples of us lending money, then forgiving debt, lending money then forgiving debt, lending money then forgiving debt, . . . How many times have we forgiven Argentina's debt then loaned them more money? Any loan by the IMF or World Bank is charity, plain and simple. It will be forgiven at some point.
The entire use of taxpayer funds is a giant fraud. There is no simple and clear showing for the Americn citizens how this money is spent.
Don't like it? Ready to do something about it? I don't mean writing letters and posting on forums. Really want to do something about it? Take a risk?
Stop your witholding taxes.
FMCDH(BITS)
Some nations are poor because they had rather to fight than to farm. Most have a reason why they are poor.
The USA cannot even afford health insurance for it's own people. The USA has been loosing it's jobs to China, India, and elsewhere, and it seems, that we need someone else to help us, for our lawmakers are busy helping the rest of the world. Our government is now even telling us that Social Security for the elderly and the disabled is going down the tubes, so yes, I think we need to stop throwing money around, and take care of our own.
And where, precisely, in the Constitution is the right to health insurance?
--Boris
Yet we want to give Social Security to the Mexicans. Next in line will be Social Security for the Haitians. Then Social Security to all Muslim illegal aliens.
I don't know how it happened, but some enemy of America infected our leaders with a bioweapon. The virus causes all politicians of both parties to liquidate all assets held in the U.S Treasury and to give it away to the citizens of planet Earth.
Meanwhile, Air Force brass have been told the F-22 is being cut back because we "can't afford it".
I honestly wish the Air Force would launch a major airstrike against Wasington D.C. Just level it, then bulldoze the ashes into a giant dumpster.
Where in the Constitution does America owe $15 billion to Africa or charity to tsunami people? The Constitution was trashed years ago. You are chasing a ghost.
By throwing our own money around to "our own". In other words, income redistribution, which is one of the primary tenets of socialism/communism.
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