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The Level of Incompetence

June 2, 2011

in Washington D.C. has hit a level of EPIC proportions….

The United States is providing hundreds of millions of dollars of foreign aid to countries that it borrows billions from, according to a report by Congress’s research arm.

The Congressional Research Services released a report last month, a copy of which Fox News exclusively obtained, showing that in fiscal year 2010, the latest year that data was available, the U.S. handed out a total of $1.4 billion to 16 foreign countries that held at least $10 billion in Treasury securities, including China ($27.2 million), Brazil ($25 million), Russia ($71.5 million), India ($126.6 million), Mexico ($316.7 million) and Egypt ($255.7 million).

China is the largest holder of U.S. Treasury bonds with $1.1 trillion as of March, according to the Treasury Department. Brazil held $193.5 billion, Russia had
Read more: http://www.foxnews.com/politics/2011/06/02/us-offers-foreign-aid-to-countries-holding-billions-in-treasury-securities/#ixzz1OB6YAGfS

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3 Comments
  1. Michael Eaton permalink
    June 3, 2011 5:41 am

    This is a silly “issue”. Foreign aid is completely separate from “securities investment”. It is like saying I can’t have a savings account as USAA while also having a mortgage. “If I can save money, I should be paying down that mortgage instead.” Silly.

  2. June 3, 2011 9:00 am

    Yeah Mike. Pretty trivial.

    And your analogy, once again, fails epically.

    This would be like giving, for free, your sorry cousin 100 bucks in “aid” because he needs “help” knowing he will never pay it back, and then he goes and loans you a 1000 bucks, with interest, because you need to pay your bills.

    Fixed it for you.

  3. texan2driver permalink
    June 3, 2011 11:01 pm

    I’m broke, but I’m still going to pay your bills and buy your groceries, and with borrowed money no less.

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