Obama Promises $2 Billion Dollars Loan To Egypt
Obama's approval rating will suffer a huge blow in the polls after Americans find out that he promised Egypt to forget about a loan of $1 Billion dollars and provide another billion dollars loan to guarantee the new government money for job-creation efforts in that country. Experts agree that this isn't a very smart move from the American president, even though he is looking for a new ally.
Barack Obama's call for the $2 Billion in loan assistance has left many politicians worried about the president's decision when the country is struggling with a huge amount of debt, around $14 Trillion dollars. Is it okay for U.S. to commit for a loan that big for a country that may not be remotely interested in a good relationship with America?
Well, according to Barack Obama, U.S. will loan somehow 2 Billion dollars to a "Democratic Egypt." President Obama doesn't understand that Egypt still has a Military Dictatorship and he's already trying to compromise $2 Billion dollars for Egyptians. However, Congressmen in America are getting ready to refuse this help to the Egyptian government.
"We do not want a democratic Egypt to be saddled by the debts of its past," the American president said. "So we will relieve a democratic Egypt of up to $1 billion in debt and work with our Egyptian partners to invest these resources to foster growth and entrepreneurship."
As mentioned earlier, the American Congress is already determined to offer resistance, especially after they have been struggling a lot lately over the terms for increasing America's own ability to borrow money from another sources.
"Considering our own national debt, we cannot afford to forgive up to $1 billion of Egypt's debt," said Rep. Elena Ros-Lehtinen, current chairwoman of the House Foreign Affairs Committee. "I am deeply concerned that the president did not rule out providing aid to Egypt if the Muslim Brotherhood is part of the government," she said.
"The U.S. should only provide assistance to Egypt after we know that Egypt's new government will not include the Muslim Brotherhood and will be democratic, pro-American and committed to abiding by peace agreements with Israel." Concluded Elena Ros-Lehtinen.
Meanwhile, Gary Johnson, former New Mexico Governor, who has shown interest in running for president in the 2012 elections, posted this message on his Twitter account: "Pres. Obama: $2B in loan guarantees for Egypt'. Guaranteed with WHAT?? We're broke. Who will guarantee our guarantee??"
Barack Obama's call for the $2 Billion in loan assistance has left many politicians worried about the president's decision when the country is struggling with a huge amount of debt, around $14 Trillion dollars. Is it okay for U.S. to commit for a loan that big for a country that may not be remotely interested in a good relationship with America?
Well, according to Barack Obama, U.S. will loan somehow 2 Billion dollars to a "Democratic Egypt." President Obama doesn't understand that Egypt still has a Military Dictatorship and he's already trying to compromise $2 Billion dollars for Egyptians. However, Congressmen in America are getting ready to refuse this help to the Egyptian government.
"We do not want a democratic Egypt to be saddled by the debts of its past," the American president said. "So we will relieve a democratic Egypt of up to $1 billion in debt and work with our Egyptian partners to invest these resources to foster growth and entrepreneurship."
As mentioned earlier, the American Congress is already determined to offer resistance, especially after they have been struggling a lot lately over the terms for increasing America's own ability to borrow money from another sources.
"Considering our own national debt, we cannot afford to forgive up to $1 billion of Egypt's debt," said Rep. Elena Ros-Lehtinen, current chairwoman of the House Foreign Affairs Committee. "I am deeply concerned that the president did not rule out providing aid to Egypt if the Muslim Brotherhood is part of the government," she said.
"The U.S. should only provide assistance to Egypt after we know that Egypt's new government will not include the Muslim Brotherhood and will be democratic, pro-American and committed to abiding by peace agreements with Israel." Concluded Elena Ros-Lehtinen.
Meanwhile, Gary Johnson, former New Mexico Governor, who has shown interest in running for president in the 2012 elections, posted this message on his Twitter account: "Pres. Obama: $2B in loan guarantees for Egypt'. Guaranteed with WHAT?? We're broke. Who will guarantee our guarantee??"
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