WASHINGTON – Congressman Tom Reed is questing spending on foreign aid for China. Reed used his weekly media conference call Tuesday to question more wasteful spending in Washington, questioning why China received $17.8 million of foreign aid from the United States last year. China is the United States’ largest creditor, holding more than $1.1 trillion of U.S. debt. Reed says the country is borrowing money from China in order to give foreign aid to China, which he says doesn’t make much sense. He called it another maddening example of how federal government spending goes along without question and without common sense.
A listener supported, non-commercial, low power FM radio station in Jamestown, NY.
[…] After hearing a Chinese national calling Americans evil, I feel it would now be a good time to discuss the fact that China, having the second largest economy in the world behind the U.S., holds a 1.1 trillion dollar debt note. That, however, isn’t the shocking part. What is shocking is that, while borrowing money from China annually, we spend approximately 17.8 Million of that borrowed money by giving it back to China and calling it…. […]