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Foreign Debt Relief. Last week the House passed the "Jubilee Act" to cancel debt for poor countries, a move that could cost Americans billions of dollars. House leaders failed to attach promised reforms to the debt cancellation, despite Treasury Undersecretary David McCormick's request that "any debt relief should be conditioned on the adoption of policies that promote sound economic practices." Apparently, they don't mind promoting unaccountable lending and forgiving nations that lack the will and/or the ability to repay their American taxpayer-financed loans

United statesDavid mccormickBrian darlingSpencer bachusr alaHarry reidMitch mcconnellJoseph liebermani connBill clintonTreasury departmentSupreme courtHeritage foundationUs senateCongressional budget officeForeign debtTreasury undersecretary david mccormickMaxine waters