Foreign governments that hold billions of dollars in American debt also get substantial amounts of aid from the U.S., according to a recently released report.
The Congressional Research Service found that more than a dozen countries – including China, Brazil, Russia, Mexico and India – that hold at least $10 billion in Treasury securities also get U.S. assistance in a variety of areas, from fighting HIV or the illegal drug trade to help with the environment or general governance.
Sen. Tom Coburn (R-Okla.), who requested the CRS examination, said the U.S. giving aid to countries it borrows from was a dangerous mix for both sides.
‘If countries can afford to buy our debt perhaps they can afford to fund assistance programs on their own,