U.S. Aid
Our government is going to contribute $5 billion for the International Monetary Fund’s $55-billion bailout fund for South Korea, the world’s 11th largest economy. That’s our hard-earned tax dollars to rescue South Korea from its destructive economic mistakes. South Korea’s economy collapsed because of years of “crony capitalism,” whereby government industrial planners directed banks to fund politically connected corporations. So South Korea’s reward for this is $5 billion of our money as long as officials promise not to do it again.
The government must think we taxpayers are the biggest suckers in the world. To it we’re a bottomless source of cash to pay for its global schemes--whether it’s trying to fine-tune the world’s economy, solve the world’s social problems or intervene in military conflicts.
PAUL ECCLES
San Diego
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