Letter to the Editor: Why providing foreign aid boosts U.S. interests
Last updated 12/9/2020 at 11:44am
It is easy to be consumed with how domestic action affects the U.S. economy, but it is an essential practice to take a step back and realize what potential the rest of the world has to offer. Foreign exports in 2018 making up just over 12 percent of the GDP. This has been on the rise, as more countries are developing and gaining the purchase power to invest in U.S. goods.
In fact, many of the fastest growing economies developing countries that have received aid from the International Affairs Budget, the fund set aside for foreign aid.
The current administration has proposed major cuts to the International Affairs Budget, which not only threatens those who rely on this aid, but also is a step backwards for the economy. As Former Secretary of Defense, Chuck Hagel stated, “We need to stop viewing it as aid. It’s an investment.”
Not only will we see an increase of cash inflow from exports, but other countries’ success will also lead to jobs being created here at home to meet the demand. This is imperative here in Washington as we have a diverse list of exports including airplanes, seafood, and fruit.
Therefore, I implore Senators Murray and Cantwell to fight for the International Affairs Budget.