Obama forgives Egypt $1 billion of loans, and wants to "guarantee" another $1 billion

Discussion in 'Middle East - General' started by CMike, May 19, 2011.

  1. CMike
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    CMike Zionist, proud to be

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    What has Egypt done for the US? They constantly vote against America, and are usually on the "other side".

    U.S. relieves Egypt of $1 billion debt to help recovery » Breaking News | Wire Update News | News Wires -

    By BNO News
    WASHINGTON D.C. (BNO NEWS) -- United States President Barack Obama on Thursday announced the decision of relieving Egypt of up to $1 billion in debt to help promote growth and development.

    Obama also guaranteed the new Egyptian government a $1 billion loan to finance infrastructure and job creation. The announcements were part of the president's speech on the recent events in the Middle East.

    "We do not want a democratic Egypt to be saddled by the debts of its past," said Obama. "So we will relieve a democratic Egypt of up to $1 billion in debt and help regain access to markets by guaranteeing $1 billion in borrowing."
     
  2. daveman
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    daveman Diamond Member

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    Considering our national debt, this is stupid and irresponsible.
     
  3. High_Gravity
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    High_Gravity Belligerent Drunk Supporting Member

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    We are basically paying Egypt to keep the peace with Israel, thats all.
     
  4. B. Kidd
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    B. Kidd Gold Member

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    Also remember this is the price of keeping the Suez Canal open too.
     
  5. B. Kidd
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    B. Kidd Gold Member

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    Spending 10 billion a month to pay for our doomed little nation building foray in Afghanistan comparatively is something to be more pissed about.
     
  6. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    But we do want law-abiding American Taxpayers to be SADDLED WITH MORE DEBT to pay for this?
     
  7. High_Gravity
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    High_Gravity Belligerent Drunk Supporting Member

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    We are the only nation in the history of man to throw money into the laps of nations that despise us.
     
  8. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    It's also unconsitutional. The President doesn't have the authority to forgive debts; only Congress can do that.
     
  9. B. Kidd
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    B. Kidd Gold Member

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    At times, for real strategic interests; other times, for mis-calculated strategic reaons. Time always tells.
     
  10. High_Gravity
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    High_Gravity Belligerent Drunk Supporting Member

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    I wish I could think of a time when throwing billions of dollars into the lap of a people that hates us with a fury actually brought us dividends.
     

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