Really now… what else could it be? Certainly the United States is the undisputed champion when it comes to providing foreign aid to countries in need, but if those countries have the resources to lend the United States a few million here or a few million there, why is this exchange happening?
I’ll admit I’m not familiar with international finance decisions when it comes to buying and selling a countries debt. Maybe I’m looking at this in a simplistic matter? China has purchased about $1.1 trillion in US debt to invest in our capitalist way of life. Of course, we’re already paying interest on that money on a regular basis, so why provide them with $27.2 million in foreign aid?
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.
Here is the full report.