U.S. hands out foreign aid to countries rich enough to buy our debt

Skip to Navigation Skip to Content

U.S. hands out foreign aid to countries rich enough to buy our debt

AP file photo
AP file photo
The U.S. gave away a total of $1.4 billion in foreign aid during fiscal year 2010.

WHAT: The U.S. gave away a total of $1.4 billion in foreign aid during fiscal year 2010 to 16 countries that owned at least $10 billion of our Treasury securities, according to the Congressional Research Service.

WHO: Creditor nations getting foreign aid included China, Brazil, India and Egypt. Russia held $128 billion in U.S. debt and received $71.5 million in aid.

WHY IT’S OUTRAGEOUS: As Sen. Tom Coburn, R-Okla., put it, “If countries can afford to buy our debt, perhaps they can afford to fund assistance programs on their own.”

Advertisement

All comments on this page are subject to our Terms of Use.

The following are not allowed:

  • ALL CAPS
  • Links
  • Profanity / Racism / Offensive Language
URL: http://www.sfexaminer.com/opinion/daily-outrage/2011/06/us-hands-out-foreign-aid-countries-rich-enough-buy-our-debt