Larry Craig: “The thing that I find ironic about this is that we spend about $20…”

On the recordFebruary 28, 1994

The thing that I find ironic about this is that we spend about $20 billion plus in foreign aid, and we like to think that most of it goes to the poor and the downtrodden, and yet the $40 billion we pay in interest to foreign investors goes to the most wealthy. It is the bankers, it is the wealthy class that has the money to invest in our debt structure that gets all of the money back. So we pay over two times as much to the foreign wealthy as we are able to put out in foreign aid to the foreign poor. Why? Because of debt.

Said by

Larry Craig

Source

govinfo.gov

Editor's note · Context

The speaker discusses the disparity between foreign aid and interest payments on debt to foreign investors.

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Larry Craig: “The thing that I find ironic about this is that we spend about $20 billion plus in foreign aid, and we like to think…”

Editor's note · Context