[tripods68]

Interesting.

In a society where the people is governed the rules of law, it is the obligation of every citizen whenever debt is incurred be paid back. Repayment of debt benefit society as a whole. In ancient times, the man who owed a debt he could not pay was held as a "slave" by his creditors until he worked off his debt or it was paid for him by his friends.

A rich country like the United States has obligations to somewhat discount third world debt if The people (Congress) consent. For example, when dictatorship like Ferdinand Marcos of the Philippines ruled for over three decades borrowed Billions from abroad that included the United States. Marcos used those money to suppressed democracy and human rights against his people. When he lost powers (i.e. Assassinated) 1986, the Philippines owed 28 Billions to foreign creditors and Marco's personal wealth was estimated to be 10 Billion. In this particular case, it would be wrong for the United States to forgive its debt entirely. But they did it anyway. The United States was partly at fault. But the US had other vested interest in the Philippines at that time, like maintaining US present throughout ASIA through its US bases (Subic and Clark AFB) especially during the Vietnam War.

What about China's ability to accumulate Trillions of US Treasurers. Do we hold them responsibility for suppressing democracy and violating Human Rights? We threaten them with Sanctions each time without real teeth behind it.

But a country impoverished like the Ethiopia for example where thousand of people dies each year because of starvation. The United States has an obligations to provide Foreign Aid Relief to help its dying people and even wipe its debt obligations if its necessary.