Palestinians are furious at the United States for vetoing an anti-Israel resolution at the United Nations last week. They are so angry that they are prepared to stop accepting financial aid from the U.S. unless President Obama changes his mind, supports the resolution and apologizes for vetoing it in the first place.
America’s national debt on January 31, 2011 was 14.13 trillion dollars. That’s 14.13 trillion dollars. The Treasury Department projects a rise to 19.6 trillion dollars by 2015.
The deficit at the end of 2010 was 1.480 billion dollars.
In 2010 the United States gave the Palestinians 223 million dollars to put against their deficit of 1.145 billion dollars. Whether they actually used it for that purpose is open to question. Given their fiscal management track record the words malfeasance, misappropriation and corruption come to mind.
If they are serious about refusing to accept a like amount in 2011 those windfall savings for the U.S. could be applied against America’s own debt or poured into the American economy in some way.
Let’s hope they stay nice and mad and those hundreds of million dollars stay in the U.S.
Don’t bet on it though. Palestinians may bluster but they won’t suffer. In the end they’ll take every penny they can get their hands on.