In light of the $1 billion President Obama pledged to Egypt in May 2011 to support their revolution, U.S. citizens have good reason to know what their tax dollars are being spent to support and what other funds are being sent now. John Kerry announced recently the creation of the Egyptian-American Enterprise Fund. $60 million will be added to the fund at first and later more will be added, coming to a total of $300 million. In a recent release by the U.S. State Department, Kerry notes that this is subject to working, “with our Congress on funding this and other programs.” Kerry mentions ‘other programs’ but does not define what these ‘other programs’ might involve.
Kerry calls the U.S. partnership with and support for Egypt strategic. Egyptian Foreign Minister Mohamed Amr referred to Egytian priorities in a meeting with Kerry, recorded in a State Department release, where Amr said, “There are a lot of changes happening in the Middle East region. There is the Palestinian issue, which is really the first issue for Egypt and for the Arab countries, and the situation in Syria as well.” President Morsi commented in a television interview in 2010, “This is what these occupiers (Zionists) of the land of Palestine know – these blood-suckers, who attack the Palestinians, these warmongers, the descendants of apes and pigs. We should employ all forms of resistance against them. . . All products from countries supporting this entity (Israel) – from the U.S. and others – must be boycotted.” Kerry’s brilliant solution is to invest American dollars in Morsi’s hostile regime.
Kerry told Morsi, “We are also modifying our Qualifying Industrial Zones program in order to help increase Egypt’s exports to the United States. By allowing exports from additional Egyptian companies in these zones to come into the United States duty-free, we will stimulate growth, deepen our partnership, and help Egypt add thousands of jobs.”
Now shouldn’t we be questioning why we are promoting job creation in Egypt that would increase Egyptian imports to the U.S.? Americans are still wondering what happened to all the stimulus money that was supposed to stimulate the U.S. economy and now this administration is using taxpayer dollars to create jobs overseas for the Egyptian economy.
But if that wasn’t enough, Kerry goes on to state that, “We will make investments as well in Egypt’s young people by funding a higher education initiative to help students, especially women, earn undergraduate and graduate degrees in science, technology, engineering and business.” This while U.S. children’s education has slipped greatly and many problems with funding in schools are seeing budget problems. A 2009 study of 15-year-olds reported that internationally, “U.S. students rank fourteenth in reading, twenty-fifth in math, and seventeenth in science compared to students in other industrialized countries.” (Council on Foreign Relations Report). And yet Kerry finds the need to put money into the education system of foreign country when the U.S. finds education dollars short.
Finally Kerry states, “in light of Egypt’s extreme needs and President Morsi’s assurance that he plans to complete the IMF (International Monetary Fund) process, today I advised him the United States will now provide the first $190 million of our pledged $450 million in budget support funds in a good-faith effort to spur reform and help the Egyptian people at this difficult time.”
And yet with all of this aid to Egypt, Kerry says, “The United States can and wants to do more.” Even with this massive amount of U.S. taxpayer dollars going to Egypt, John Kerry apparently plans this as just the beginning!
Egypt also expects to seal a deal for a $4.8 billion loan from the IMF before their upcoming parliamentary elections, according to a Reuters article. The $1 billion promised by Obama would also be released with this deal.