Biden spoke to a group of African leaders and promised the US would send $350 billion to the African continent.
Biden’s proposal was not backed with many specifics and there was no mention of how the US was going to pay for it.
During his remarks, Mr. Biden announced a $350 billion investment from the U.S. to ensure people across Africa can participate in the digital economy. Mr. Biden offered few details about the investment beyond saying that he will ask Congress to secure funding and it will involve both federal and private sector partnerships.
Biden pledged $8 Billion to South Africa in an effort to stop the mining of coal in the country. This is one area where he was more specific. Grabien pointed this out from Biden’s speech:
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“These MCC investments are part of the work we’re doing worldwide through the Partnership for Global Infrastructure and Investment. I proposed this initiative together with the rest of the G7 to help fill the need for quality high-standard infrastructure in Africa and the low-income and middle-income countries around the world. At the G-7 meeting earlier this year, we announced our intention to collectively mobilize $600 billion in the next five years. Today’s announcement joined a portfolio of Partnership for Global Infrastructure Investment projects already underway in Africa, including mobilizing $8 billion in public and private finance to help South Africa replace coal-fired power plants with renewable energy sources and develop cutting edge energy solutions like clean hydrogen, a deal worth $2 billion to build solar energy projects in Angola, $600 million high-speed communications cables that will connect southeast Asia to Europe via Egypt and the Horn of Africa and help bring high-speed internet connectivity to countries all along the way.”
The US economy since Biden took over is being destroyed. Inflation is at a 40-year-high, the markets are down while some economists claim the country is not in a recession.
US debt has never been higher surpassing $30 trillion under Biden and taxes soon won’t be enough to pay off the interest payments on the debt.
But crazy Joe thinks it’s a good idea to give billions to Africa on who knows what. The best guess is that 10% will go to the big guy – the biggest crook to sit in the White House in US history.