Thursday, January 11, 2007

War Debt

At the close of 2006, England paid off its debt from World War II to the United States and Canada.

Read about it here.

The U.S. loaned England 4.33 billion in 1945 at 2% for 50 years (apparently there were 5 years that Great Britain had to defer payments because of economic hardships). The money was used to rebuild Great Britain after the war.

World War I war debts have still not been repaid. Ummmmm???????

I'm curious . . . . how long will it take the United States to repay the money it is borrowing for fighting in Iraq?????? Ummmmmm????????????

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