China has the world's second-largest economy and grew at more than 10 percent last year, yet Congress continues to dole out foreign aid to a country that holds more than one trillion dollars of U.S. government debt. Although long overdue, two U.S. lawmakers are speaking out against this seemingly illogical notion, as they pose the question: Why should the United States continue to shovel out taxpayers’ dollars to a communist nation that holds more than one trillion dollars of U.S. debt and competes in the same economic spheres?
"Why in the world would we be borrowing money and then turn[ing] around and giving it back to the countries that we’re borrowing it from?" asked Sen. Tom Coburn (R-Okla., photo). "If they have enough of a surplus to loan us money, they have enough of a surplus to take care of their own needs." Sen. Jim Webb (D-Va.) echoed his Republican colleague, telling Fox News, "Hey, in the crisis that we’re in right now, should we really be continuing to send American taxpayer dollars over to China for these purposes?"
U.S. foreign aid to the People’s Republic of China (PRC) is siphoned off in the form of bilateral and multilateral developmental assistance and aid to individual recipients. Some of the aid exits to the PRC in the form of social and economic development assistance through the United Nations.
Click here to read the entire article.