Tomorrow, Britain will pay off its World War II loan debt to America and Canada.
On Friday, Britain will transfer 43 million pounds ($84 million) to the U.S. Treasury, according to Bloomberg News Service, the final payment on a debt used to finance the World War II defeat of Adolf Hitler and Nazi Germany.
The original loan was for $4.34 billion in 1945. Canada loaned $1.07 billion. At the time, the Brits expected a generous gift, not a loan, but grudgingly accepted it .... because they had no choice.
You know, they say you should never loan money to family, but despite their debt, the Brits have remained our closest allies over the past 60 years. One wonders how many other nations have kept up their mortgage payments over the past six decades.