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WHY DOES U.S. GIVES OUR TAX DOLLARS TO WORLDS RICHEST COUNTRIES?

judy ann 2012/02/07 01:41:21
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U.S. gives billions of dollars in foreign aid to world's richest countries - then asks to borrow it back





By
Daily Mail Reporter


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.


Barack Obama

Around the world: Barack Obama on the Great Wall of China. Last year China received $27.2m in foreign aid from the U.S.


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.


Foreign aid is
earmarked for causes including HIV/AIDs prevention,
combating weapons of mass destruction, fighting tuberculosis, and
counter-terrorism efforts.

The news has caused grave concern, with Senator Tom Coburn, R-Okla, who requested the report seen by Fox News, calling the policy 'dangerous'.

In a written statement Senator Coburn said: 'Borrowing money from countries who receive our aid is dangerous for both the donor and recipient.


'If countries can afford to buy our debt, perhaps they can afford to fund assistance programs on their own.

THE TOP 10 COUNTRIES RECEIVING THE MOST AID

Colombia $461.2m

Mexico $316.7m

Egypt $255.7m

Philippines $128.2m

India $126.6m

Russia $71.5m

China $27.2m

Brazil $25m

Thailand $16.75m

Turkey $8.2m

'At
the same time, when we borrow from countries we are supposedly helping
to develop, we put off hard budget choices here at home.

'The status quo creates co-dependency and financial risk at home and abroad.'

The
news arrives as lawmakers in Washington battle over the conditions for
increasing the nation's ability to borrow money before defaulting on its
obligations.


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  • Welshtaff 2012/02/08 04:04:22
    COMMENT
    Welshtaff
    +1
    Because we are stupid, we should take care of our own then take care of the others that need help.
  • judy ann Welshtaff 2012/02/08 15:32:14
    judy ann
    Gov. should live and budget with in our means, not theirs
  • Old Timer 2012/02/07 17:49:12
    COMMENT
    Old Timer
    +1
    Cause our foreign policy leadership is STUPID!!
  • judy ann Old Timer 2012/02/08 15:31:26
    judy ann
    I agree
  • John Galt jr or Ron/jon 2012/02/07 13:18:35
    BEATS THE HECK OUT OF ME
    John Galt jr or Ron/jon
    I think it's so they can buy guns from us, so they can shoot us when they don't like us anymore...
  • hari 2012/02/07 11:21:31
    COMMENT
    hari
    U S DOES NOT GIVE ANY AID TO RICH COUNTRIES BUT HELP TO POOR COUNTRIES AND ALSO TO PROMOTE TRADE DEALS
  • John Ga... hari 2012/02/07 13:15:52
    John Galt jr or Ron/jon
    +2
    China is a poor country?
  • hari John Ga... 2012/02/07 20:05:01
    hari
    NO but no Financial aid is being given to China ? For trade of course favors extended due to cheap stuff
  • judy ann hari 2012/02/08 15:29:38
  • hari judy ann 2012/02/08 16:48:15
    hari
    yes - we are on diminishing ratio - so let us have improvement from our own deciding to cut short our unwanted expenditure
  • santanasmooth 2012/02/07 05:04:31
    BEATS THE HECK OUT OF ME
    santanasmooth
    Your still giving aid to china and so are we, look it up insanity
  • kaZappoo 2012/02/07 04:41:48
  • Rabbit 2012/02/07 03:48:30
    All of the above
    Rabbit
    +2
    Ron Paul has this part of the equasion right...we have to STOP THE MADNESS. Most of these foreign countries use the money to buy bullets that kill our soldiers.
  • I'm History 2012/02/07 03:06:06
    COMMENT
    I'm History
    +2
    Because the two party system is Pro-Foreign Nations, and NOT pro-America,
    That's why!!!!
  • judy ann I'm His... 2012/02/08 15:30:13 (edited)
    judy ann
    +1
    It has to change. We are in debt up to our eye balls
  • I'm His... judy ann 2012/02/09 00:35:07
    I'm History
    Yup, and that will continue to be the fact if any democrat, or any republican becomes president again. Both democrat and republican leadership allowed the bailouts, and both democrat and republican leadership allow foreign aid in the billions of dollars while America goes bankrupt, and Americans go on welefare because of lost jobs.

    You want to change that scenario, then you have got to think "outside" the political arena, and that's "independent leadership". Independent of the two party logic, and not just the president, but ALL OF THEM !!!!!
    Replacing the President would be a good start, but it would not solve Americas problem.
    What we need now is an independent government that thinks about "America-First", and foreign nations after America is up on her feet!!!!
    Otherwise it's only gonna get worse, and worse, and the American taxpayer will pay for all of it with their taxes going up, up, up, and government services being cancled, one by one, until there are none. We will see more parks close or the price to go there go up, we will see auto registration go up, we will see everything go up while we are still unemployed, and shipping our employment overseas to foreign nations that hate America. We need to cut all foreign aid for 5 years to start, then only give to nations t...



    Yup, and that will continue to be the fact if any democrat, or any republican becomes president again. Both democrat and republican leadership allowed the bailouts, and both democrat and republican leadership allow foreign aid in the billions of dollars while America goes bankrupt, and Americans go on welefare because of lost jobs.

    You want to change that scenario, then you have got to think "outside" the political arena, and that's "independent leadership". Independent of the two party logic, and not just the president, but ALL OF THEM !!!!!
    Replacing the President would be a good start, but it would not solve Americas problem.
    What we need now is an independent government that thinks about "America-First", and foreign nations after America is up on her feet!!!!
    Otherwise it's only gonna get worse, and worse, and the American taxpayer will pay for all of it with their taxes going up, up, up, and government services being cancled, one by one, until there are none. We will see more parks close or the price to go there go up, we will see auto registration go up, we will see everything go up while we are still unemployed, and shipping our employment overseas to foreign nations that hate America. We need to cut all foreign aid for 5 years to start, then only give to nations that can prove their use of our aid, or they get nothng. Did you know billions of aid to Haiti was "LOST", and no one knows where it went,, just fricken disappeared into thin air. And that's because there was no record or plan as to what the money was to be used for, it just went into banks, where Haiti government officials drew it out as it was needed, for what, there is no record!!!!
    That's Americas foreign aid program, and that's just one instance out of thousands of the same logic!
    At this point, it's 'independent' or get use to being in debt for a long, long time.

    neither
    (more)
  • Wolfman 2012/02/07 02:56:51
    COMMENT
    Wolfman
    +2
    leverage
  • judy ann Wolfman 2012/02/08 15:25:55
    judy ann
    leverage money scale over load I think the people will always fall short
  • Wolfman judy ann 2012/02/08 16:31:58
    Wolfman
    leverage is good.
  • Whizzy 2012/02/07 02:44:38
    COMMENT
    Whizzy
    +1
    wtf lending to the richest country's and then ask us for a loan of no less then 23.7 billion, yeah, we want our 23,7 billion back I think, you can deposit it on my paypal then I will make sure my government get's it
    administration cat
  • judy ann Whizzy 2012/02/08 15:21:46
    judy ann
    I want mine back also. I would take a nice vacation and pay off some bills :)
  • Matt 2012/02/07 02:31:55
    COMMENT
    Matt
    +2
    America gives away billions of dollars in foreign aid because billions of dollars come back in the form of campaign contributions and outright kickbacks. Once money leaves our shores, there is no accounting for it. Despite what anybody might tell you, this is the same reason that corporations leave our country also.

    Foreign Aid
  • judy ann Matt 2012/02/08 15:20:45
    judy ann
    +1
    So true, this is just not right
  • James 2012/02/07 02:28:44
    WE HAVE TO BUY A ONE WAY FRIENDSHIP
    James
    +1
    Ron Paul is right. Why SHOULD we have to bribe people to like us?
  • judy ann James 2012/02/08 15:20:10
    judy ann
    +1
    I have to give him that. They should be paying us to keep them free
  • Duke----The Non Racist, Fun... 2012/02/07 02:20:36
    COMMENT
    Duke----The Non Racist, Funny Duke !
    +1
    Why do "We the People" give federal tax to the government when it was never ratified into law?

    And not a single person can ever show that it was made into a law that we have to let it be taken from us.
  • judy ann Duke---... 2012/02/08 15:19:31
    judy ann
    +1
    The Gov. does what ever it wants with OUR MONEY
  • Kara ~~~ American Patriot 2012/02/07 02:13:07
    BEATS THE HECK OUT OF ME
    Kara ~~~ American Patriot
    +4
    I am a firm believer that charity begins at home. We are in not position to be giving money to Countries that have more then us.
  • judy ann Kara ~~... 2012/02/08 15:18:38
    judy ann
    +1
    you got that right
  • Red Branch 2012/02/07 02:09:20
    All of the above
    Red Branch
    +4
    Bankruptcy is an important part in the drive to destroy America.
  • Kara ~~... Red Branch 2012/02/07 02:14:18
    Kara ~~~ American Patriot
    +2
    Good answer.
  • Red Branch Kara ~~... 2012/02/07 02:15:48
    Red Branch
    +3
    Thank you and illegal aliens are the 2d part of the equation.
  • Kara ~~... Red Branch 2012/02/07 02:21:25
    Kara ~~~ American Patriot
    +2
    Yes they are. I am very much against illegal aliens.
  • judy ann Red Branch 2012/02/08 15:18:13
    judy ann
    +1
    It looks like Obama is trying very hard to do that.
  • Red Branch judy ann 2012/02/08 15:33:43
    Red Branch
    He didn't start the debt, but he is adding more debt and hoping the US reaches the breaking point.
  • David Hussey 2012/02/07 01:49:48
    COMMENT
    David Hussey
    +2
    Foreign Aid, from America or others, usually amounts to collecting from the poor of one nation to give to the wealthy of another nation
  • judy ann David H... 2012/02/07 01:56:49
    judy ann
    +5
    We are in the crapper, we need aid from all that got our tax dollars for sooooooooooooo many years
  • David H... judy ann 2012/02/07 02:01:11
    David Hussey
    +2
    I agree for the most part Judy Ann. I think that the foreign aid is the least of America's fiscal foolishness and the domestic condition does indeed need considerable attention. I do think however that it is honorable for the wealthy nations to help the less fortunate. My problem with foreign aid is that the monies collected rarely end up getting to the people who need help.
  • judy ann David H... 2012/02/08 15:17:39
    judy ann
    +1
    I know,my point , the rich get richer
  • judy ann 2012/02/07 01:48:41
    All of the above
    judy ann
    +4
    This is so unfair, we keep giving our tax dollars to other countries, when we are barely getting by

    Many of these foreign countries are very rich. The people there do not benifit, only their gov.

    Who does this put you in the mind of ? us is going broke We should take care of our own people .

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