From the radically left-wing New York Times.

Excerpt:

The Obama administration notified Congress on Friday that it would provide Egypt’s new government an emergency cash infusion of $450 million, but the aid immediately encountered resistance from a prominent lawmaker wary of foreign aid and Egypt’s new course under the leadership of the Muslim Brotherhood.

[…]The aid is part of the $1 billion in assistance that the Obama administration has pledged to Egypt to bolster its transition to democracy after the overthrow last year of the former president, Hosni Mubarak. Its fate, however, was clouded by concerns over the new government’s policies and, more recently, the protests that damaged the American Embassy in Cairo.

[…]Secretary of State Hillary Rodham Clinton, speaking at a meeting of the Group of 8 nations in New York, said on Friday that the world needed to do more to support the governments that have emerged from the Arab Spring uprisings, including those in Egypt, Libya and Tunisia.

“The recent riots and protests throughout the region have brought the challenge of transition into sharp relief,” Mrs. Clinton said, without mentioning the assistance to Egypt specifically. “Extremists are clearly determined to hijack these wars and revolutions to further their agendas and ideology, so our partnership must empower those who would see their nations emerge as true democracies.”

The debate comes as the issue of foreign aid in general made an unexpected appearance in the presidential campaign.

In a speech in New York on Tuesday, Mr. Obama’s Republican challenger, Mitt Romney, called for revamping assistance to focus more on investments in the private sector than on direct aid… While Mr. Romney did not address aid to Egypt directly, he cited Mr. Morsi’s membership in the Muslim Brotherhood as one of the alarming developments in the Middle East, along with the war in Syria, Iran’s pursuit of nuclear weapons and the killing of the American ambassador to Libya.

[…]The assistance outlined in letters to Congress on Friday would be contingent on Egypt’s setting in motion economic and budgetary changes that the International Monetary Fund is now negotiating as part of a $4.8 billion loan.

The administration has also thrown its support behind that loan, and officials said they hoped it would be completed before the end of the year.

Is the economy doing so well than we have money to spare to send to foreign governments that don’t like us very much? Whatever need we have to strengthen diplomatic ties with nations like Egypt would best be met by foreign investment, where we get something back, rather than foreign aid, where we get nothing back.