Hold On To Your Wallets

Note that the Anti-Poverty Program is not in the US, but in the UN !

Obama Laments Debt, But Promises Billions for Anti-Poverty Program
by FOXNews.com Friday, September 19, 2008
By Bill Sammon

Barack Obama, who lamented Friday that “we have not managed our federal budget with any kind of discipline,” is nonetheless promising to spend $50 billion on a United Nations anti-poverty program that critics say will drive up American debt.

“The short-term weakness in the capital market is a reflection of long term problems that we have in our economy,” Obama told reporters in Florida. “We have been loading up enormous amounts of debt.”

Yet Obama and his running mate, Joe Biden, have pledged tens of billions in new spending on a U.N. program that promises cash to poor countries. The program is one of eight sweeping “Millennium Development Goals” the U.N. adopted in 2000.

“Obama and Biden will embrace the Millennium Development Goal of cutting extreme poverty around the world in half by 2015, and they will double our foreign assistance to $50 billion to achieve that goal,” the candidates vow in their campaign platform.

Johns Hopkins professor Steve Hanke said such spending would merely drive up American debt, while doing almost nothing for the world’s poor.

“It goes down a bureaucratic rat-hole, lining the pockets of people who are connected to the power structure,” said Hanke, a senior fellow at the Cato Institute. “It’s basically a system to redistribute income from middle class people in the United States to rich people in poor countries. It never reaches those people who are living on a dollar a day.”

Hanke said such expenditures are especially unwise in the wake of significant expansions of government and spending during President Bush’s tenure.

“We’ve been spending like drunken sailors and making obligations into the future like drunken sailors,” he said. “We’re on an unsustainable path in terms of the fiscal situation in the United States because of massive spending growth and commitments.”

Obama said he wants to curtain at least one of those costly commitments.

“We have spent well over half a trillion dollars — soon to be a trillion dollars — on a war in Iraq, despite the fact that Iraqis are now running surpluses,” the Illinois senator said Friday. “We’re still spending $10 billion a month there.”

But in December, Obama also sponsored the Global Poverty Act
which, if passed, would require the president to commit to cutting
global poverty in half by 2015. Critics say that would cost
American taxpayers $845 billion.

Susan Rice, one of Obama’s top foreign policy advisers, says the U.S. should give 0.7 percent of its Gross Domestic Product to developing nations.
http://elections.foxnews.com/2008/09/19/obama-laments-debt-but-promises-billions-for-anti-poverty-program/

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7 Responses to “Hold On To Your Wallets”

  1. Patriot Says:

    It is the Conservative movement, and Reagan in particular, that have ruined this great country. Tax cuts for the rich and corporate welfare are Reagans legacy along with Iran-Contra. Obama is the only person that has an economic plan to get us back to being financially strong while helping those that have the least. Get with it.

  2. armageddonoutahere Says:

    The whining, crying Liberals are causing the destruction of this country.
    The Liberals who denigrate and bad mouth the U.S. every chance they get.
    Republicans help those ‘who have the least’. They strive to get them away
    from dependency on government and give them back their dignity. Those
    big, bad corporations are the ones who give those jobs to the ones who
    want to work and want to be part of a productive America. Liberals are
    responsible for the collapse of the black family. Liberal Democrats had to
    be dragged, kicking and screaming to pass the Civil Rights Act. It was
    the Republicans who pushed the Act through. Reagans Legacy is restoring
    our country after 4 years of Jimmy Carter, by far the worst President this
    country has ever been unfortunate to have. That’s the Liberals legacy.
    Let’s remember Reagans other legacy, though you’d probably rather
    forget it.. .. The Tearing Down of the Berlin Wall. Remember that one.

  3. jackenstein Says:

    Obama? Obama? Who the hell is Obama anyway? Nothing positive has come out about him that is worth mentioning, so how can he truly be considered as a candidate for president? Spent most of his time in the Senate writing his memoirs (don’t you have to accomplish great things before you write your memoirs?) and then touring on a publicity campaign. Scary that so many would even consider this media hyped novice. The democrats really screwed up placing all of their eggs with this rotten onion. Makes for a nasty egg salad sandwich if you ask me!

  4. Patriot Says:

    Another fallacy of history by the neo-cons. Reagan had absolutely nothing to do with tearing down the berlin wall. All he did was give a speach…which by the way was all he was good at. Yje war in Afganistan is what ended the Soviet Union. Just as our involvement in the middle east will do to us..get with it and educate yourself dont just read neo-con talking points.

  5. armageddonoutahere Says:

    “Patriot” Read History…. Don’t rewrite it. The Strategic Defense Initiative (SDI) was the proposal by U.S. President Ronald Reagan that scared the hammer and sickle out of the Soviets and lead to the crumbling of the Berlin Wall. Get yourself a History book and stop repeating the liberal mantra. You’ve not only been brain washed, you’ve been dumbed down too.

  6. Patriot Says:

    Whoa more neo-con taliking points. How naive of you too think it was SDI. It was not. It was the war in Afghanistan that brought down the USSR. You can attempt to rewrite history all you like but the facts are the facts. You should probably read a couple of history books yourself instead of the garbage put out by the neo-con establishment. I have a PHD in history and I was alive during the Reagan years. I know what happened….do you?

  7. armageddonoutahere Says:

    Patriot still rewriting history aren’t you ? You just can’t break the habit.
    Evidently that PHD you received stands for POT HEAD DIPLOMA and I’m
    sure you earned it. Come down off cloud nine and get a reality check.
    You’re so filled with the Kool Aid the libs have been feeding you, you can’t
    think straight. I suggest you take your PHD pick up a case of Kool Aid and
    head on over to ObamaforPresident.com or some other commie site and
    you can all sing Cumbia together.

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