Another Money Pit

BIGMONEY

U.S. Secretary of State John Kerry on Sunday rewarded Egypt for President Mohammed Morsi’s pledges of political and economic reforms by releasing $250 million in American aid to support the country’s “future as a democracy.”

Yet Kerry also served notice that the Obama administration will keep close watch on how Morsi, who came to power in June as Egypt’s first freely elected president, honors his commitment and that additional U.S. assistance would depend on it.

“The path to that future has clearly been difficult and much work remains,” Kerry said in a statement after wrapping up two days of meetings in Egypt, a deeply divided country in the wake of the revolution that ousted longtime President Hosni Mubarak.

Egypt is trying to meet conditions to close on a $4.8 billion loan package from the International Monetary Fund. An agreement would unlock more of the $1 billion in U.S. assistance promised by President Barack Obama last year and set to begin flowing with Kerry’s announcement.

“The United States can and wants to do more,” Kerry said. “Reaching an agreement with the IMF will require further effort on the part of the Egyptian government and broad support for reform by all Egyptians. When Egypt takes the difficult steps to strengthen its economy and build political unity and justice, we will work with our Congress at home on additional support.”

@ SALON

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11 Responses to Another Money Pit

  1. micki says:

    ACTION ALERT ACTION ALERT >>>>>>>>

    FROM CREDO: Progressive champions Rep. Alan Grayson and Rep. Mark Takano have written a letter with that pledge, and 22 of their colleagues have joined them.

    However!

    Three-Quarters of Progressive Caucus Not Taking a Stand Against Cuts in Social Security, Medicare and Medicaid

    LIST OF PROGRESSIVE CAUCUS MEMBERS WHO HAVEN’T STOOD UP

    (Hmmmm….so electing politicians who call themselves PROGRESSIVE is the key to PROGRESS??!! [note Dr B's comment last night]We can “hope,” I guess. But, in the meantime, let ‘em know you’re not happy.)

  2. micki says:

    Two quotes from THIS ARTICLE BY GLEN FORD, WHO HAPPENS TO BE A BLACK MAN:

    “Disaster capitalism is manifesting itself as disaster governance.”

    “The Republicans are his partners, not his opponents.”

    The summation:

    The closest thing he has to an opposition – at least on paper – is the Congressional Progressive Caucus, whose two co-chairs introduced a bill that would turn the austerity juggernaut on its head. It’s called the Balancing Act of 2013, and would replace all of the sequestration cuts with new revenues, and then add a $276 billion stimulus to the economy. Needless to say, the progressive bill will get nowhere, not just because of Republican opposition, but because the top Democrat, Barack Obama, wants to go down in history as the smart austerity president. Just as he said he wasn’t opposed to wars, but only to dumb wars – which is why he has built tens of thousands of the smartest drones and smartest bombs ever devised by man. He’s outsmarting what passes for a Left in the United States at every turn. They cheer him as he effectively consummates his grand bargain with the GOP, in a cacophony of manufactured crises, exhausting what little opposition remains. That’s why we at BAR* call him the more effective evil.

    *Black Agenda Report

    • micki says:

      Carol — I viewed the video. Then I took a deep breath and read some of the comments.

      I’m reminded of a Mark Twain quote, goes something like this:

      One man alone can be pretty dumb sometimes, but for real bona fide stupidity there ain’t nothing can beat teamwork.

      Most of the comments are beyond depressing. :-(

  3. David B. Benson says:

    Blue Monday. :|

  4. Susan Anderson says:

    Will be absent a few days – nothing personal (well, my personal but not about y’all). But I was struck that the Republicans seem to need advice from a blind guy who scaled Everest on how to communicate (New Yorker on Eric Cantor et al.). Is that weird or is that weird?

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