« | »

Obama Gives Egypt Another Billion Dollars

From an overjoyed Reuters, just last week:

U.S. nears deal for $1 billion in Egypt debt relief: source

By Matt Spetalnick | Reuters – Tue, Sep 4, 2012

WASHINGTON (Reuters) – The Obama administration is close to a deal with Egypt’s new government for $1 billion in debt relief, a senior U.S. official said on Monday, as Washington seeks to help Cairo shore up its ailing economy in the aftermath of its pro-democracy uprising.

Why don’t the Egyptians just ask the Chinese for this ‘debt relief,’ since it’s really their money? Why not cut out the middle man?

U.S. diplomats and negotiators for Egypt’s new Islamist president Mohamed Mursi – who took office in June after the country’s first free elections – were working to finalize an agreement, the official said.

Progress on the aid package, which had languished during Egypt’s 18 months of political turmoil, appears to reflect a cautious easing of U.S. suspicions about Mursi and a desire to show economic goodwill to help keep the longstanding U.S.-Egyptian partnership from deteriorating further

When are the Egyptians going to show us some good will?

By the way, Obama called for his "aid package" and more, more than a year ago. It’s not his fault. He’s been pushing to help the Muslim Brotherhood from day one.

But let’s hope that recent events don’t derail this "aid package." In fact, they will probably provide Obama with an excuse to increase it. We wouldn’t want anything to disrupt our excellent relations with Egypt.

Analysts say that one way the United States could influence the direction of policy in Egypt, a nation at the heart of Washington’s regional policy since a peace treaty was signed with Israel in 1979, would be through economic support as Cairo tries to stave off a balance of payments and budget crisis.

And some people say money can’t buy you love. But it’s clear the billions we have given Egypt over the years has made them one of our closest friends.

Obama first pledged economic help for Cairo last year

As we said. He couldn’t wait.

But even as the negotiations proceeded in Cairo, Washington has also signaled its backing for a $4.8 billion loan that Egypt is seeking from the International Monetary Fund and which it hopes to secure by the end of the year to bolster its stricken economy…

Needless to say, the lion’s share of that $4.8 billion will also come from the US taxpayer. Who will have to borrow it from the Chinese.

By the way, who is going to help us bolster our stricken economy?

This article was posted by Steve on Wednesday, September 12th, 2012. Comments are currently closed.

One Response to “Obama Gives Egypt Another Billion Dollars”

  1. Right of the People says:

    “By the way, who is going to help us bolster our stricken economy?”

    Didn’t hear from Barry, our economy is doing just fine.

    The timing couldn’t be better for this. They storm our compound and burn the flag so what the hell, lets toss them a billion or two in thanks?

« Front Page | To Top
« | »