by Michael Krieger, Liberty Blitzkrieg:
In a bizarre announcement yesterday, the U.S. Treasury Department boasted that the government of Jordan had closed on a $1.25 issuance of sovereign debt guaranteed by the U.S. government. While I am not sure how common it is for our nation to guarantee these types of issuances (comments would be appreciated), the announcement represents a gigantic slap in the face on multiple levels.
From the U.S. Treasury Department’s press release:
This guarantee marks the conclusion of a process that President Obama set in motion in March 2013 when he visited Jordan. During his visit, President Obama noted that a U.S. guarantee, “can help deliver the results that Jordanians deserve… to see their schools better, their roads improved, healthcare, clean water all enhanced, the training that I know a lot of Jordanians seek, particularly young people, to get a job or to turn entrepreneurial skills into a business that creates even more jobs.” That vision was further affirmed by the signing of a loan guarantee agreement in Amman on August 14, 2013.
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