Obama’s Strange Strategy: Borrow Foreign Money to Give to Foreign Countries
Should we be borrowing money from China to turn around and give it to the Muslim Brotherhood?
Given that we are running massive deficits and are drowning in more than $14 trillion in debt, and despite not knowing who will rule Egypt until its election this fall, this strange strategy may be the end result given President Obama’s announcement that he is committing $2 billion to Egypt’s “new government.” It’s part of a $20 billion foreign aid package laid out with the Group of 8 countries in Europe today.
Now, given that Egypt has a history of corruption when it comes to utilizing American aid, it is doubtful that the money will really help needy Egyptian people. Couple that with the fact that the Muslim Brotherhood is organized to have a real shot at taking control of Egypt’s government, and one has to ask why we would send money (that we don’t have) into unknown Egyptian hands?
Throwing borrowed money around is not sound economic policy. And throwing borrowed money around the developing world is not sound foreign policy. Foreign assistance should go to American allies that need it and appreciate it, and for humanitarian purposes when it can truly make a difference.
Considering the Obama Administration’s continued strange strategies on the economy and foreign policy has us counting down the days to the next election. November 2012 can’t come soon enough.
- Sarah Palin