While Congress debates balancing the budget by cutting programs for the elderly and the poor and no agreement has been reached to raise the debt ceiling, the administration offers to send billions in aid to Egypt and Tunisia.
Evidently, Egyptians are struggling with a stagnating economy – never mind that the U.S. has reached its borrowing limits and thousands of Americans remain unemployed.
Here’s the scoop:
WASHINGTON -- President Barack Obama will announce plans Thursday to funnel billions of dollars in economic aid to Egypt and Tunisia as part of a broader effort to inject democracy into the Middle East and North Africa.
Obama will unveil a massive package of economic measures, including up to $1 billion in debt relief and another $1 billion in loan guarantees, during a speech on U.S.-Middle East policy set for Thursday morning at the State Department. Other pieces of the package include a new trade partnership with the region and a fund for stimulating regional private sector investments.
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