President Obama Will Call For Billions In Aid To Arab Nations -- AZ Central
WASHINGTON - President Barack Obama will use his speech to the Arab world today to call for billions of dollars in financial assistance to Egypt and Tunisia as part of a comprehensive approach to the "Arab Spring" movement that he hopes will boost democratic reforms and America's reputation in the region.
The aid package, which would unfold over two to three years, would include an estimated $1 billion in debt cancellation, $1 billion in loan guarantees and several billion more in financing from multilateral institutions such as the World Bank, according to three senior administration officials who briefed reporters on condition of anonymity under ground rules set by the White House.
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My Comment: So .... with the Muslim Brotherhood and their Islamic allies poised to take over the governments in Tunisia and Egypt .... the U.S. taxpayer is now prepared to finance and financially support these new governments. What is even more preposterous, is that with the U.S. facing budget deficits in the trillions .... there are those in the White House (the President included) and the media who believe that we still have the resources to make this possible.
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The "loans" made to Mubarek were soon subsidies to American companies supplying him with arms (How else did he afford the American made tanks we saw during the uprising?). Now do we want the Egyptians to pay us for the tanks used against their efforts to free themselves from a dictator?
Unfortunately too much of any new loans is likely to also wind up as subsidies for arms suppliers. Does anyone think Congress will demand otherwise?
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