What, exactly is your objection to canceling third world debt? You will be shocked at the interest rates which these loans were given.
Canceling third world debt will (theoretically) enable third world countries to spend more on health care and infrastructure (hence stimulating demand).
The last point is that we owe $10 Trillion. We will be asking for debt forgiveness sometime in the future. (Do unto others as you would like others to do unto you).
I’m all for cancelling international debts. It’s not like it ever really gets repaid to us and it only costs us in the long run.
It’s the Global Poverty Act I am trying to draw more attention to. The Jubilee Act forgives the debt, The Global Poverty Act is bad all around.