Obama to offer debt relief to Egypt in Mideast speech (while putting US further in debt)

reuters ^ | 5/18/2011 | By Jeff Mason

[tobyhill]

President Barack Obama will unveil an economic aid program for Egypt and Tunisia on Thursday as part of a broad effort to support democratic reform in the Middle East and North Africa, U.S. officials said.

Senior advisers to Obama, previewing parts of his speech, said Wednesday the United States would offer debt relief totaling roughly $1 billion "over a few years" to Egypt through a debt swap mechanism that would invest the money to boost youth employment and support entrepreneurs.

Washington would also loan or guarantee loans up to a total of $1 billion through the Overseas Private Investment Corp (OPIC) for Egypt to finance infrastructure development and boost jobs, the officials told reporters on a conference call.

[mylife]

We can’t pinch this turd off fast enough!

[ConorMacNessa]

Wonderful - now we'll be making direct payments to the terrorists.

Lamh Foistenach Abu!

[4rcane]

borrow $1 billion at 3% and loan it at 1%. At a lost of 2% per billion.

[cripplecreek]

A billion dollars to Jordan as well. (Plus a whole crapload of wheat as a major flood drowns crops here)

[himno hero]

“broad effort to support democratic reform in the Middle East and North Africa”

How can Islam have “democracy”? Democracy is a product of Western Civilization , the English language and has its own culture and infrastructure born out of law. Now we have Obama parroting them!

But then again, what should we expect from a MB supporter?

[2ndDivisionVet]

“Of course, not all my conversations in immigrant communities follow this easy pattern. In the wake of 9/11, my meetings with Arab and Pakistani Americans, for example, have a more urgent quality, for the stories of detentions and FBI questioning and hard stares from neighbors have shaken their sense of security and belonging. They have been reminded that the history of immigration in this country has a dark underbelly; they need specific reassurances that their citizenship really means something, that America has learned the right lessons from the Japanese internments during World War II, and that I will stand with them should the political winds shift in an ugly direction.”

~Barack Hussein Obama

[Flag_This]

Do his speeches come with a laugh track?

[Typical_Whitey]

Seriously? He can’t get any kind of agreement to curb spending in America. We have reached and exceeded our debt limit set by his Democratic Congress, the Democrats continue to promise nanny state entitlements forever and then demagogue against Conservatives that attempt to get spending under control. His party continuing to rob the public trust in order to gain power over its people and now this idiot faker in the White House has the cajones to increase to the tune of a Billion Dollars aid to countries that hate us.... yes this is certainly his WTF moment...

[JimmyMc]

Please, someone cut his credit card in half.

[penelopesire]

“Washington would also loan or guarantee loans up to a total of $1 billion through the Overseas Private Investment Corp (OPIC)”

Well..reuters..which is it...a direct loan(which is probably against the OPIC charter) or ‘loan guarantees’(which sounds like the failed Fannie and Freddie fiasco). Either way it sucks..but would it be too hard for you reporters to actually do a little research or questioning of this latest theft of the American taxpayer?

Just the facts please!

[Recovering Ex-hippie]

Really!

WTF with this jerk!

[RockinRight]

While you’re in his wallet, slice up his race card too.

[SunkenCiv]

Thanks tobyhill. He’s going to recognize “Palestine”.

NYT LEAD THURSDAY: OBAMA PLANS SURPRISE IN MIDEAST SPEECH.. DEVELOPING... (nothing follows)
http://www.freerepublic.com/focus/news/2721882/posts

[Sacajaweau]

Both Muslim countries!!!

Maybe Dems will start seeing the writing on the wall....OBAMA IS A MUSLIM!!

[Ted Grant]

He does seem bent on alienating more and more American voters, huh?

[LonelyCon]

How can Islam have “democracy”? Democracy is a product of Western Civilization , the English language and has its own culture and infrastructure born out of law.

I would refer you to Japan, South Korea, India, South Africa, etc. as examples of non-western nations that have successfully adopted democracy (all with the help of the west).

I have argued before on this site that I believe it is our moral duty to do everything we can to encourage and assist people the world over - including in Islamic countries - to achieve democracy and freedom from tyranny. I have no idea whether BO's plan is a good one since I haven't heard what it is, but I do believe that to dismiss billions of people as unfit for democracy is un-American. We are still the shining city on the hill, and in our great fortune we have a responsibility to assist those who are still under the yoke of tyranny - whether that be governmental or religious tyranny.

[goodnesswins]

Yeah....and I just heard they released a last tape from Osama praising the uprisings in Egypt....so, I guess we know for sure whose side Obama is on....

[famousdayandyear]

And to boot, they are killing Coptic Catholics who protected the rebels in prayer during the so-called protests for democracy. What a miserable muslim weasel we have for POTUS.