The money is going straight to Egypt's military, who are still our allies and who will hopefully take the country over from the fundamentalist Islamic Brotherhood that Egyptians freely elected.
The Egyptian military are no longer our allies. Morsi knew they weren’t on the MB side and purged a number of them (those who didn’t support the MB) and others retired while they could still get out alive.
They may still be a little less inclined to engage in outright savagery than the rabble, but they’re no longer our friends.
We’re not getting our money’s worth. The upper ranks will be purged by the MB, if it hasn’t happened already.
I hope it's not the morons in Foggy Bottom.