The Washington Post quoted President Donald Trump as saying: “The Democrats and President Obama gave Iran $150 billion and got nothing, but they can’t give $5 billion for national security and a wall?”
In 1979, Iran took U.S. hostages. As a result of that act, the U.S. froze Iranian assets that ended up being roughly $150 billion in today’s money. The money had been frozen for many years and was tied up in litigation to pay off survivors and families who lost loved ones or people who lost assets in the overthrow of Iran.
Obama freed $150 billion for Iran in an effort to compel Iran to stop nuclear-technology development. Unfortunately, Obama’s deal failed. Some media outlets argue that Obama only gave the Iranians $50 billion while others say $150 billion.
Obama's White House described the payout as "the historic deal that will prevent Iran from acquiring a nuclear weapon," claiming that Iran would only get, a little over $50 billion.
In January 2016, even Obama Secretary of State John Kerry said he believed that this money ultimately would end up with organizations involved in terrorism, according to PolitiFact.
While nobody wants another Benghazi fiasco where a U.S. embassy was invaded, blown up and U.S. diplomats were tortured and assassinated for the first time since 1979, this present situation of diplomacy by Trump seems to have been handled without any casualties and loss of face.
What would $150 billion buy?
Whether it is $50 billion or $150 billion,either would have been enough money to send between 300,000 and up to one million children to college for 4 years using an average cost of $40,000 per year.
While some of the old-stream media says that not much money was given to Iran, even PolitiFact says Obama gave upward of $150 billion dollars away to the foreign nation which recently attacked the Iraq U.S. Embassy.
- $50 billion would pay healthcare insurance costs for 5 million of America’s most vulnerable families which would provide free healthcare for up to 20 million Americans.
- $150 billion would pay healthcare for 15 million working families and cover up to 60 million members of these families for free.
- $50 billion would pay the monthly bill for auto loans for a year for 10 million workers in the U.S. at $5,000 each for one year.
- $150 billion could have paid off all reparations forever to those who suffered under slavery.
- $150 billion would provide all 3 million teachers in the U.S. with a $5,000 bonus.
So the economics of diplomacy has consequences, and there are experts out there today saying that giving cash to countries with a track record of creating war and conflict is simply a bad idea.
George Mentz JD MBA CWM Chartered Wealth Manager ® is a licensed attorney and CEO of GAFM ® global education, which is an ISO 29990 Certified professional development company operating in over 50 nations. Mentz is an award-winning author and advisory board member to several companies around the world in education, charities, and crypto currency.
© 2021 Newsmax Finance. All rights reserved.