The Foundry
Heritage.org
5/26/2011
Normally, in exchange for a loan, you agree to pay the bank the principal borrowed along with interest. You would never think of then giving the money back to the bank so that the bank could remodel, sweep the parking lot, or buy cases of those squiggly government-approved light bulbs. If the bank wants to do that, they can pay for it themselves.
The Environmental Protection Agency (EPA) does things differently. While the People’s Republic of China holds over $1.1 trillion of our debt, EPA is busy giving grants to China (see here, here, here, here , here, and here). The Chinese grantees include their Ministry of Environmental Protection.
The Chinese would be stupid not to take the money and run. They get whatever the EPA is funding for free. Even if the Chinese don’t really want or need whatever it is, it’s revenue or salaries that make them richer and us poorer. On top of that, we pay them interest to take the money.
Could the EPA be less responsible with your hard-earned money? Unfortunately, yes…
The article continues at Heritage.org
