The Borgen Project | economyandpoverty

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45%of all U.S. exports go to developing nations.Talking PointsAs people rise out of poverty, they transition from barely surviving into becoming consumers of goods and products. This creates new markets for U.S. companies and jobs for American's.Foreign Policy Magazine describes the world's poor as the largest untapped market on earth.You have to invest to profit. Nearly all of the United States' top trading partners were once recipients of significant U.S. foreign aid.History has shown that as people transition from barely surviving into becoming consumers, it opens new markets for U.S. companies and generates jobs in the United States.1 out of 5 U.S. jobs is export related and 45 percent of our exports go to developing nations. From Germany to South Korea, nearly all of the United States top trading partners were once recipients of U.S. foreign aid. In March of 2011, U.S. Treasury Secretary Timothy Geithner testified before Congress that cutting foreign aid would hurt the economy and make the U.S. less competitive with China which is rapidly expanding in Africa.In 2011, the U.S. Chamber of Commerce called on Congress to better fund international aid programs. The worlds largest business federation opposed all cuts to the International Affairs Budget stating, Diplomacy and development programs are essential to creating jobs and spurring economic growth in the United States."We need to stop viewing it as aid. It's an investment."- Sen. Chuck Hagel (R-NE)"Looking at these issues as a businessman, I believe that investing in the world's poorest people is the smartest way that our government spends money."- Bill Gates"By building new markets overseas for American products, the International Affairs Budget creates jobs and boosts the economy here at home--Former Homeland Security Secretary Tom Ridge"We have no choice but to stay engaged in the world. 95 percent of the people we want to sell something to live somewhere else, and America's access to and leadership in foreign markets is critical." - Tom Donohue, President of the U.S. Chamber of Commerce"From an economic perspective, what happens in one country has ripple effects throughout the world."- Chris Policinski, CEO Land O'LakesCEOs Say End PovertyMany of the top CEOs in the country want Congress and the White house to address global poverty. View a partial list of business leaders advocating for an end to poverty.Companies Urging Congress to Fight PovertyIn June of 2011, over 50 major companies sent a letter toCongress urging the International Affairs Budget beprotected. Among the major companies who want the U.S.fighting the good fight and developing new markets:AID = INVESTMENTSen. Chuck Hagel (R-NE) was right when he said "We have to stop viewing it as aid. It's an investment." Below are some of the past struggling nations where the U.S. assisted the poor and the return on investment the United States receives today:1 U.S. Department of Commerce, Bureau of the Census, United States - Imputed Multilateral ODA, Disbursements2 U.S. Department of Commerce, Bureau of the Census, Foreign Trade

Global Poverty & US Jobs

The Marshall PlanAfter World War II, with GI's coming home in search of work, U.S. leaders did the unthinkable... They spent $12.7 billion overseas ($110 billion in today's dollars) rebuilding our allies and enemies alike. The retun on investment for providing aid to a demolished and impoverished Europe has been enormous. The U.S. now exports $240 billion a year to European Union nations. Read the transcript of Marshall's speech introducing the plan here.Youtube

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