Lend and Forgive Cycle

This post was written by marc on April 24, 2006
Posted Under: Letters to the Editor

Letter to the Editor

U.S. Secretary of the Treasury John Snow said Sunday that the United States should end it’s policy of lending money to poor nations and forgiving the debt. I question if it’s wise to take that position now that we are 9 trillion dollars in debt ourselves. At some point in the future we are going to have to stop our borrow and spend policies and start paying down our national debt. If America takes a harsh position against the debt of poor countries then who will have compassion for us when we come to the world with our hat in our hand asking for help? America needs to be both compassionate towards others and fiscally responsible for our own borrowing. Right now we are neither.

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