After this morning's welcome news that a detested terrorist has been killed, focus should now turn to how many of your hard-earned tax dollars are being sent to Pakistan. According to this morning's New York Times, the US plans to send $7.5 billion to Pakistan over the next five years. At $1.5 billion annually, that works out to about $5 per year from every man, woman, and child in America. The aid is for humanitarian purposes, flood relief, development of desperately poor areas, and, of course, military assistance. This for a country that has for years been the residence of the principal agitator of terror and murder against Americans worldwide. Now certainly the average Pakistani did not know the whereabouts of Al Qaeda's nerve center. And perhaps senior government officials in Islamabad did not know either. But it strains belief that a prominent building in a city smaller than Erie, PA would not be known to important elements of Pakistan's intelligence services.
Before the feds send my five bucks - or yours - we deserve a better explanation from Pakistan's government about who knew what and when. Otherwise, I wouldn't give them a nickel.
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).