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

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.”

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Staff Report

Staff Report

A daily newspaper covering San Francisco, San Mateo County and serving Alameda, Marin and Santa Clara counties.
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