BUSH AND BLAIR AGREE ON AFRICAN DEBT RELIEF

According to the NTIMES, Bush and Blair have agreed in principle to massive multi-billion dollar debt relief for more than a dozen impoverished nations.

The plan would free 18 countries, most of which are in Africa, from any obligation to repay the estimated $16.7 billion they owe the international lenders, said the official, who requested anonymity because a formal announcement of the agreement had not been made. The debts will be written off by the lenders in an effort to allow the debtor countries to start fresh, get their books in order and eventually be able to borrow again for economic development, health, education and social programs, rather than simply to repay existing loans.

I WONDER HOW THE LEFT, AND THE MSM THEY DOMINATE, WILL SPIN THIS INTO AN ANTI-BUSH/ANTI-GOP TIRADE? Maybe they'll claim that the approach that Bush favors amounts to nothing more than handing out tax relief to the banks that hold the debt? Here's why I suspect this approach (from the NYTIMES article):

"One approach, favored by Britain, was for the rich nations to take over responsibility for repaying the debts. The second method, favored by the United States, was for the loans to be written off entirely by the lenders."

Stay tuned...