The U.S. is borrowing money from China only to give some of it right back as foreign aid. Have we lost our freakin minds??? Lawmakers criticize US aid to creditor China | KMOV.com St. Louis Tuesday, November 15, 2011 WASHINGTON (AP) Aid to China $275 million worth over 10 years has been approved while control of both Congress and the White House has shifted between the parties. But with America scrambling to reel in its $14.8 trillion national debt, the foreign aid budget has become a first casualty. Republicans are calling for steeper cuts to the $21 billion budget of the U.S. Agency for International Development. This year's aid will be just $12 million, half that of 2010, but it's a prime target. China is the world's second largest economy, America's main foreign creditor, and blamed by both Democrats and Republicans for many of America's economic woes.