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June 3, 2011
Our Rulers Give Free Money to Hostile Countries They Borrow It From
Posted by Dave Blount at June 3, 2011 11:55 AM
As the country teeters on the verge of an economic crisis of potentially catastrophic proportions due to uncontrolled deficit spending by the government, our rulers are shoveling free money at the same largely hostile countries they borrow it from:
The Congressional Research Service 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 $127.8 billion, India owned $39.8 billion, Mexico held $28.1 billion and Egypt had $15.3 billion.
Senator Tom Coburn (R-OK) pointed out the obvious:
"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."
As for the limousine liberals directly responsible for the demented largesse:
The State Department did not respond to a request for comment.
Here's a comment: Irresponsibility and incompetence can no longer explain the government's policies; willful treasonous malevolence can.
On a tip from G. Fox.
Comments
And even further proof that this administration is hostile to citizens:
U.S. Bureau of Labor Statistics admits to "Data suppression Procedures" Welcome to 1984:
Posted by: JWWright at June 3, 2011 12:04 PM
How can I get in on this scam?
Posted by: Henry at June 3, 2011 12:23 PM
Global development is a priority and the United States has an obligation as the richest nation, biggest consumer and biggest problem causer to be number 1 in funding global development programs.
Posted by: Günther at June 3, 2011 12:34 PM
DO NOT FEED THE TROLLS.
Posted by: Henry at June 3, 2011 12:37 PM
"Socialism is a philosophy of failure, the creed of ignorance,
and a gospel of envy. Its inherent virtue is the equal sharing
of misery." Winston Churchill
Posted by: Had it up to here :/ < at June 3, 2011 12:47 PM
Irresponsibility and incompetence never could explain what is going on. It has been and continues to be criminal larceny on an unprecedented scale, and treason organized at a level that is unbelievable. They should be treated like the criminals and traitors that they are.
Posted by: Hedgehog at June 3, 2011 1:01 PM
They should be doing the
Posted by: TED at June 3, 2011 1:29 PM
Posted by: Henry at June 3, 2011 12:37 PM
GOOD MAN HENRY!! 8-)
Posted by: TED at June 3, 2011 1:31 PM
In similiar circumstances people would call that ..... MONEY LAUNDERING.
Posted by: LogicMine at June 3, 2011 1:37 PM
Don't worry. Those countries might be hostile to the USA, but their people love Obama. Oh, wait. That's not good news at all!
Posted by: Jodie at June 3, 2011 1:56 PM
So here's how to make the world's easiest $1 billion:
STEP 1: Form a bank.
STEP 2: Round up a bunch of unemployed friends to be "bankers."
STEP 3: Raise $1 billion of equity. (This is the only tricky step).
STEP 4: Borrow $9 billion from the Fed at an annual cost of 0.25%.
STEP 5: Buy $10 billion of 30-year Treasuries paying 4.45%
STEP 6: Sit back and watch the cash flow in.
don't worry about them raising rates and making your bond lose value...they don't have the spine to do that!
You do know foreign banks are doing this to us right??
They come in and get fed money,then they buy treasuries....and the taxpayers subsidize the 4% free ride!!!
HAD ENOUGH YET?
Posted by: wingmann at June 3, 2011 2:44 PM
This is more undisputable proof that liberals are crazier than drunken pigs.
How do you spell ‘liberal’?
F-O-O-L
Posted by: Jimbo at June 3, 2011 4:10 PM
If the people in our administration had studied Shakespeare instead of Mark, they would have found this bit of advice from Hamlet Act I Scene III line 79
Neither a borrower nor a lender be;
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.
We are not going to win over an adversary by giving him money, or mortgaging or future to him, nor are we likely to learn to spend wisely by treating said adversary like an unlimited credit card.
Posted by: James McEnanly at June 3, 2011 6:58 PM
What a fool. There were no credit cards in the days of Shakespere. Find a better quote.
Posted by: Günther at June 3, 2011 7:03 PM
Allowing government access to unlimited amounts of money is like giving a teenagers the car keys and a case of whiskey.
Posted by: Sgt Stadenko at June 3, 2011 7:09 PM
My drug addict brother did this. He would "borrow" money, and SOMETIMES pay it back. When he did pay it back, he would immediatly "borrow" more than the repayment.
"Borrow" as in "practicly extort".
Will this be alowed in the Liberal constitution? Get to work on it, trolls!
Posted by: KHarn at June 4, 2011 4:25 AM
Posted by: Günther at June 3, 2011 7:03 PM
I should have used a better analogy. The Bard most likely would have used Cornucopia, or 'horn of Plenty', which was a mythical, limitless supply of food.
Posted by: James McEnanly at June 4, 2011 5:21 AM
Funding our own economic destruction!
This can't be accidental, folks.
Posted by: Always On Watch at June 4, 2011 9:09 AM
GET OUTTA HERE GUNTHER YOU REPTILE YOU
Posted by: SPURWING PLOVER at June 4, 2011 9:15 AM
GET OUTTA HERE GUNTHER YOU REPTILE YOU
Posted by: SPURWING PLOVER at June 4, 2011 9:17 AM
Cunther: In case you didn't read it the first time:
"Socialism is a philosophy of failure, the creed of ignorance,
and a gospel of envy. Its inherent virtue is the equal sharing
of misery." Winston Churchill
Posted by: Specter at June 4, 2011 9:32 AM
