Obama nears agreement with Muslim Brotherhood-led govt to forgive $1 Billion debt

And there’s another half billion or more of additional aid being made available to the Muslim Brotherhood courtesy of U.S. taxpayers. This isn’t news to Creeping Sharia readers as we’ve been telling you about if for more than a year. Did Your Elected Officials approve this? via U.S. Prepares Economic Aid to Bolster Democracy in Egypt – NYTimes.com.

WASHINGTON — Nearly 16 months after first pledging to help Egypt’s failing economy, the Obama administration is nearing an agreement with the country’s new government to relieve $1 billion of its debt as part of an American and international assistance package intended to bolster its transition to democracy, administration officials said.

The administration’s efforts, delayed by Egypt’s political turmoil and by wariness in Washington about new leaders emerging from its first free elections, gained new urgency in recent weeks, even as the United States risks losing influence and investment opportunities to countries like China. President Mohamed Morsi chose China for his first official visit outside of the Middle East.

In addition to the debt assistance, the administration has thrown its support behind a $4.8 billion loan being negotiated between Egypt and the International Monetary Fund. Last week, it dispatched the first of two delegations to work out details of the proposed debt assistance, as well as $375 million in financing and loan guarantees for American financiers who invest in Egypt and a $60 million investment fund for Egyptian businesses.

The assistance underscores the importance of shoring up Egypt at a time of turmoil and change across the Middle East, including the relatively peaceful uprisings in Egypt and Tunisia, the still-unfinished transition in Libya, the showdown over Iran’s nuclear program and the war in Syria.

Saudi Arabia and Qatar have stepped in to provide emergency infusions totaling $3 billion, while China offered Mr. Morsi a $200 million loan for Egypt and signed investment contracts in agriculture and telecommunications.

China is making loans while the broke U.S. is forgiving them. WTF?

Egypt’s debt to the United States exceeds $3 billion, most of it from a program called Food for Peace that offered loans to buy American agricultural products after the Camp David peace accords with Israel during the Carter administration. The $1 billion in debt relief proposed by Mr. Obama has been cobbled together from money from assistance programs that has not been spent over the last few years.

The administration is negotiating whether to waive some debt payments altogether or allow “debt swaps,” in which the money that would otherwise pay down the American debt instead is spent on training and infrastructure projects in Egypt intended to attract private investment and create jobs. Congress has attached conditions to American assistance in Egypt, requiring Secretary of State Hillary Rodham Clinton to certify, among other things, that the country continues to abide by its treaty with Israel.

 Congress is inept, Clinton won’t certify shit, and billions of U.S. taxpayer dollars will be plundered – stolen from working Americans and given to those who want to kill us and will use our own money to do so. Fire them all.

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• Obama proposes $800M in aid for Sharia Spring, $8B for “Overseas Contingency Operations”

• Hillary Clinton laughs it up with Muslim Brotherhood, pledges hundreds of millions in US taxpayer dollars

• State Dept training Islamic political parties in Egypt – seeking $2B

• U.S. gives Jordan another $100M of your tax dollars, $2.4B in past 5 years

• Letter to the Editor Exposes Obama’s Ikhwanization of the Mideast