Should we give aid to foreign companies?

[rswyan]

Careful there Mate.

It depends on what the Aid Money will be used for, which can be specified... if you cut off help to other countries (medical wise) then they will just go seeking it elsewhere.

That 'elsewhere' will be China. They have been doing this with quite a number of small, island nations to the north of us = pay off their national debt and build infrastructure for them. This has been happening in Africa too.

Those countries that have been 'cut off' for Aid will have a long memory of it too.

The answer on aid is:

Is it in our national interest ... or not ?

Having said that, there’s no doubt it’s a slippery slope, both potentially and in fact ...

 

[ovrszd]

Careful there Mate.

It depends on what the Aid Money will be used for, which can be specified... if you cut off help to other countries (medical wise) then they will just go seeking it elsewhere.

That 'elsewhere' will be China. They have been doing this with quite a number of small, island nations to the north of us = pay off their national debt and build infrastructure for them. This has been happening in Africa too.

Those countries that have been 'cut off' for Aid will have a long memory of it too.

I agree this is a complication subject.

Right now this Country is at "War" with this virus. Our system is shutting down. We are preparing to go another couple Trillion in debt to try to soften this. Until this is over all Foreign Aid money to every nation even our allies should stop.

After it's over we can resume talks.

 

[ruffdog]

Nah, we are just going to create a half trillion dollar slush fund for the Treasury Dept to hand out with no oversight. The money will be used for stock buybacks (after all it is best to buy low) and executive bonuses.

The stimulus (bailout) for businesses is now estimated to cost 4 Trillion.

Fed will make up to $4 trillion in loans to businesses to rescue the U.S. economy, Mnuchin says - MarketWatch

 

[NorTracNY]

I'm all for giving foreign aid, IF we are getting something in return. That now overused term of "quid pro quo" should be a requirement. No it shouldn't be benefiting a person, but the country. If we give aid, then there should be VERY clear demands with it.

 

[kf4uda]

IMO, if they're not an American registered company, then they don't qualify for American aid.

I agree.

 

[ruffdog]

I'm all for giving foreign aid, IF we are getting something in return. That now overused term of "quid pro quo" should be a requirement. No it shouldn't be benefiting a person, but the country. If we give aid, then there should be VERY clear demands with it.

When that happens, there would be no reason to hide phone calls and meetings, right? Maybe even record the discussions for future transparency?

 

[LouNY]

When that happens, there would be no reason to hide phone calls and meetings, right? Maybe even record the discussions for future transparency?

I'm sure that you have never been in negotiations that you wouldn't what recorded and announced.
Everything has been perfectly resolved no gray issues, no hold back, no hidden cards.

 

[KennyG]

The funding being discussed in response to the current crisis is essentially all for US companies that employ US citizens. However, this thread brings out a general misconception on US Foreign Aid.

Most people think we spend a lot on foreign aid, but it typically runs about 1% of the US budget. Of that small amount, almost half is for military support and development funds that must be spent to purchase things from the US. The other half is mostly for economic development and humanitarian aid.

US churches and (non-government) charities are the most generous in the world when it comes to international aid, but our government is among the stingiest of advanced countries (on a % of GDP basis) when it comes to aid.

However, none of this counts the contribution the US makes in providing technical advances, medical breakthroughs, etc to developing countries. This is a major factor in the tremendous reduction in world poverty and starvation in the past 50 years.

 

[ovrszd]

The funding being discussed in response to the current crisis is essentially all for US companies that employ US citizens. However, this thread brings out a general misconception on US Foreign Aid.

Most people think we spend a lot on foreign aid, but it typically runs about 1% of the US budget. Of that small amount, almost half is for military support and development funds that must be spent to purchase things from the US. The other half is mostly for economic development and humanitarian aid.

US churches and (non-government) charities are the most generous in the world when it comes to international aid, but our government is among the stingiest of advanced countries (on a % of GDP basis) when it comes to aid.

However, none of this counts the contribution the US makes in providing technical advances, medical breakthroughs, etc to developing countries. This is a major factor in the tremendous reduction in world poverty and starvation in the past 50 years.

Yep. It's very complicated. I'll stick with my earlier statement. All monetary aid needs to stop. Exchanging knowledge and technology is another discussion in it's self.

In regards to percentages of our GDP. I put no value on that.

So, you and I are in a discussion about money. You have $100 in your pocket. I have 50 cents in my pocket. You say "Hey, loan me a quarter?" I'm probably going to say no. That would be half my money. On the other hand if I ask you for 50 cents you are probably going to give it to me. Is the 50 cents a different value depending on which one of us gives it? No. It's still 50 cents.

If we give a nation $10M it's still $10M even if it's an immeasurably small percentage of our GDP.


How much does the US give in foreign aid?

As of fiscal year 2017, foreign aid provided through the U.S. State Department and USAID totaled $49.87. 1 billion, or about 1.2% of total spending, but still equivalent to about 7.5% of the deficit.

 

[Steppenwolfe]

From news reports yesterday, President Trump has written North Korea offering Covid-19 aid. Sheesh!

With friends like that, who needs enemies? :confused3: