Obama Announces $33B In Commitments For Africa

[Purveyor]

Source: Associated Press

WASHINGTON (AP) -- President Barack Obama says the U.S. must do more to boost its financial foothold in Africa as economies on the continent grow stronger.

Obama is speaking at a U.S.-Africa summit in Washington that has brought together business leaders and politicians. In conjunction with the summit, the White House is announcing $33 billion in commitments aimed at increasing U.S. economic ties with Africa.

A big part of the money, $14 billion, is coming from the private sector. Among the companies announcing new commitments are Coca-Cola and General Electric.

Tuesday's business conference is part of an unprecedented three-day U.S.-Africa summit. Nearly 50 African leaders are in Washington for the meetings.

Read more: http://hosted.ap.org/dynamic/stories/U/US_AFRICA_SUMMIT?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-08-05-15-44-56

[Lost In America]

1. Billions of dollars for Africa. Diddly squat for our own infrastructure.

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[Hugabear]

2. If these companies have that much money to give, then they can afford to pay more in taxes

'Nuff said.

[Psephos]

6. Or, in GE's case, pay any at all. n/t

[leftyladyfrommo]

3. China is simply raping Africa's resources. n/t

[Purveyor]

4. And we are borrowing money from them to give to Africa. {{{spit}}} eom

[Psephos]

7. Not any more.

China has headed for the exits.

The Fed has stepped up to replace them, creating "money" out of thin air. This faux money (which is actually a debt of the Fed, like all Federal Reserve Notes), is then used to purchase US government debt, at a rate of $75 billion per month. In other words, we're using even more debt to finance the debt. In any private business, this would be criminal malfeasance.

But no, just send the bill to the people of the future, with a big Fuck You printed on the bottom.

The rest of the world has had enough of this irresponsibility and the serial arrogance that has accompanied it. There are serious efforts underway to replace the dollar as world reserve currency, and they are gaining momentum rapidly. When that happens, the music stops, and life here is going to get very expensive very quickly.

[pampango]

5. Aid to Africa. Polls show nobody hates foreign aid more than a tea partyer. n/t