Obama pledges $1 billion in loan guarantees for Jordan

RANCHO MIRAGE, California Fri Feb 14, 2014 11:56pm EST

U.S. President Barack Obama meets with Jordan's King Abdullah at Sunnylands in Rancho Mirage, California February 14, 2014. REUTERS/Kevin Lamarque

U.S. President Barack Obama meets with Jordan's King Abdullah at Sunnylands in Rancho Mirage, California February 14, 2014.

Credit: Reuters/Kevin Lamarque

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RANCHO MIRAGE, California (Reuters) - U.S. President Barack Obama on Friday pledged $1 billion in loan guarantees for Middle East ally Jordan and the renewal of a five-year aid package.

Obama made the announcement while meeting with Jordan's King Abdullah at a summit at a California retreat. Jordan, one of the United States' closest allies in the Middle East, is a regional player in diplomatic efforts seeking peace in the turbulent region and is one of two Arab countries, the other being Egypt, that has signed a peace treaty with Israel.

(Reporting by Steve Holland; Writing by Mark Felsenthal; Editing by Lisa Shumaker)

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Comments (5)
Madrina wrote:
Aid to Jordon or a loan to Jordon? I can bet you a six pack that we won’t ever see that one BILLION dollars repaid. Gosh, imagine what domestic priorities we could spend that money on instead. Must be bribe money we’re giving Jordon so they keep letting our CIA people use their land for covert training centers that send trained fighters into Syria with our arms no doubt.

Feb 15, 2014 10:59am EST  --  Report as abuse
fedupaj wrote:
Obama is loaning money we had to borrow in the first place. Throw another billion on the 17 trillion dollar debt pile. Brilliant.

Feb 15, 2014 11:23am EST  --  Report as abuse
Patriot8251 wrote:
Let me see if I got this right.

We barrow money from China, Japan (our two largest lenders), and others to help pay our bills.

We go $17,258,805,514,290 in debt ($7,308,528,135,387 since 2008) because we can’t balance our outlays with our receipts (i.e., a balanced budget), so we need money from China, Japan, and others.

Now, being broke, we barrow more money from China, Japan, and others and give it to Jordan.

Ya, that about sums it up.

Feb 15, 2014 11:29am EST  --  Report as abuse
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