Originally created 11/29/00

Taxpayers foot debt 112900 - The Augusta Chronicle



Expensive decisions were made just before Election Day by a Congress eager to get out of Washington, D.C.

Consider the foreign aid bill, which authorizes spending $14.9 billion in renewed assistance. Part of that bill contains an incredible $435 million write-off of debt owed by Third World countries, most of which don't have even a semblance of a free enterprise system. (If we are going to "forgive debts," why not help beleagured, debt-ridden U.S. family farmers?)

However, this foreign "debt relief" doesn't mean that the lenders won't get paid - it just means that U.S. taxpayers, not the borrowers, will pay the obligations.

And get this: $100 million of taxpayer money is earmarked to rebuild Serbia, the target of an expensive U.S. bombing campaign two years ago.



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