Letter to the Editor: Less people in poverty = More Consumers
Recently the federal budget has been a hot topic across the nation, especially here in Alaska. As legislators congregate to discuss planning on whether to return to state income tax or create an endowment with the Alaskan Permanent Fund Dividend, constituents are aware that growing American jobs is key to reducing our growing deficit. It makes sense that Alaska should invest in foreign aid to help recover from the hole we are in today.
For those who are not in-tune with the international affairs side of business, American job creation is tied with the returns received on investing in developing nations. The world’s poor is one of the largest untapped markets! As individuals transition from barely surviving to becoming consumers, new markets open for the U.S. New markets that can provide states such as Alaska with the economic boost needed to improve the state and federal budget.
With the closing of numerous University programs, and the increase in unemployment, Legislators cannot afford to cut off large returns on investment and economic opportunities to generate big dividends. Legislators know our deficit wouldn’t materially change if all foreign aid was eliminated, however, the price for the loss would be paid in U.S. jobs and lost opportunities to improve our economy and decrease unemployment.
Organizations such as the Borgen Project are working to build awareness of the Economic, National Security and Diplomatic reasons for strong U.S. leadership in investing more into the Foreign Policy Budget, but it is up to legislator’s to invest more into our foreign aid and in return to invest in improving our nation’s economy.
– Lyssi G