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NEW YORK -- Republican presidential nominee Mitt Romney on Tuesday laid out his vision for the future of foreign aid, one tied closely to his domestic policy prescriptions which promote the power of free enterprise and of hard work to lift people out of poverty.
In an address to one of the nation's pre-eminent philanthropic groups, the Clinton Global Initiative (the namesake group of former President Bill Clinton), Romney outlined a foreign aid strategy that would emphasize public and private partnerships to boost the economies of developing nations.
While speaking at the Clinton Global Initiative, GOP presidential hopeful Mitt Romney offered his take on why current US foreign aid practices are generally ineffective, saying that building a strong nation through free enterprise is the best assistance America can provide to developing and impoverished nations.
"For American foreign aid to become more effective, its got to embrace the principles that you see in these global initiatives," Romney said, referring to his host, the Clinton Global Initiative's annual conference. "The power of partnerships, access the transformative nature of free enterprise, and leverage of the abundant resources that can come from the private sector."
Romney then outlined his views on foreign aid, which he said should be tied to the opening of markets in developing nations. The GOP presidential candidate argued that foreign aid -- coming from either government or private investments -- should be focused on developing long-term economic opportunity so that the money that is spent has a better chance of making a lasting difference.
"A temporary aid package can give an economy a boost. It can fund projects. It can pay some bills. It can employ some people for a time," Romney said. "But it can’t sustain an economy -- not for the long term. It can’t pull the whole cart, if you will -- because at some point, the money runs out.
Reuters, Getty Images
In the final push in the 2012 presidential election, candidates Mitt Romney and Barack Obama make their last appeals to voters.
The former private equity CEO then debuted a new model of public and private development in his speech, which he referred to as "Prosperity Pacts."
"To foster work and enterprise in the Middle East and in other developing countries, I will initiate something I'll call 'Prosperity Pacts.' Working with the private sector, the program will identify the barriers to investment, trade, and entrepreneurship and entrepreneurialism in developing nations," Romney said. "In exchange for removing those barriers and opening their markets to U.S. investment and trade, developing nations will receive U.S. assistance packages focused on developing the institutions of liberty, the rule of law, and property rights."
"We will focus our efforts on small and medium-size businesses. Microfinance has been an effective tool at promoting enterprise and prosperity, but we've got to expand support to small and medium-size businesses that are oftentimes too large for microfinance, but too small for traditional banking," he continued.
The 20-minute speech by the GOP challenger to President Barack Obama marked perhaps his most detailed presentation of how the United States might interact with the developing world in a Romney administration. It came just hours before Obama was set to address the United Nations general assembly across midtown Manhattan, in a stretch of campaigning in which foreign policy has supplanted the economy as the election's driving force.
Romney was introduced in his remarks by former Clinton, who has assumed an outsized role in the presidential race in recent weeks, as the Romney campaign elevated the former president in an effort to paint Obama as too liberal and far outside the centrist Clinton tradition. Clinton only turned about to offer an outspoken defense of Obama at the Democratic National Convention, a stirring speech which many analysts credit for boosting Obama's poll numbers immediately thereafter.
Taking the podium, Romney joked about his host's warm introduction.
"If there's one thing we've learned in this election season by the way, its that a few words from Bill Clinton can do a man a lot of good," Romney deadpanned, continuing as the laughter in the room subsided. "All I've gotta do now is wait a couple of days for that bounce to happen."
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When did the private sector last repair one of our dilapidated bridges? When did a for-profit school not aim for profits to stay in business, at the expense of teacher to student ratios? We cannot expect to count on the private sector to ever replace our taxes in doing what our citizens want! This includes our foreign aid!
Romney is a perfect example. This nation provided him with all the opportunities to become rich, yet he hides his money in other nations to cheat our taxman! Romney invests tens of millions for himself and for each one of his chirldren into Charter Schools, and now wants to propose a "school voucher system" to increase his family's wealth from the White House! The greed of for-profit Corporations know no bounds! And the same can be said for those who become rich off the fruits of American labor and give nothing in return! Mitt sent our industry overseas!
I salute those Americans who start foundations and contribute to worthy causes and we should thank them for that, but too many of those foundations are "fronts" for billionaires and consortiums, whose goal is to make it seem like the contributors are heroes, while behind the closed doors, they are funding these foundations with our own tax dollars and our own resources. A perfect example is the "Heritage Foundation" of the Koch Brothers. The money supporting this far-right leaning "foundation" is derived from digging dirty coal out of the ground and refining dirty oil, that we Americans subsidize, to the tune of billions of dollars a year.
It is better to have the Federal Government retain control of those wasted, un-necessary, tax breaks for the rich and the subsidies for industries, as rich as our entire nation. Maybe those funds would be better served, not with pristine wilderness commercials, but used for contributions our populace agrees upon, instead of making it seem like the greed of corporations is non-existent and those contributions from those for-profit industries are from admirable men. We all know that is not true most of the time!
When we see the commercials of pristine wilderness and those who want us to believe the corporations behind the beautiful ads are just compassionate heroes with the best wishes for America, remember the BP oil spill! BP, Halliburton, and Trans-Oceanic were not interested in our pristine wilderness! They were only interested in gaining maximum wealth, without the proper attention to mishaps, just the same as Mitt Romney!
When we go to work, and see our Corporate profits in the last quarter jump 13 per cent and the workers get nothing for all the efforts, there is something wrong!
Mitt Romney is a "top down economic theory" supporter and will continue to steal from the poor to give to the rich. His Bain record is his and cannot be erased. He will not name one loophole he would close before the election. He will not show us his taxes to let us decide if he is worthy enough to run this nation. Mitt Romney does not trust us with his tax information or any specifics on anything he plans for America if he is elected!
Why should we trust Mitt Romney? And why should we subsidize his philanthropic foreign aid, built upon the backs of Americans he cheated, and hidden off-shore?
Mitt just wants to direct those funds into his awaiting LLC's in Bermuda, where he can create for-profit, tax free, foundations to skim some more off the top, just like he has always done, and no doubt will continue to do as our President, with the support of the corporate-controlled Republican Party, who will share in the profits!
President Obama is the only choice for President. Republicans do not deserve to control the House or the Senate with their shenanigans any further!
The private sector will first pay theirselves skimming money off the top for their own luxuries.
I am certain Romney has already calculated his fees into his plans.
His private sector will build the company and when it is doing good will bankrupt it making off with a fortune and severely pissing the Middle Easterners off.
While this looks good on paper, my concern is that would just lead to more power for international companies to the point where they will end up running the world. It is already coming to that to a degree, since whether or not a big company comes into an area often determines how well the area does economically.
An example of this was shown recently by that bizarre Australian multi-billionaire woman who thought $2/day was a good salary for the Africans mining her diamonds! Some of these billionaires are truly pathological and don't have an ounce of empathy. And remember, unlike politicians, these people can't be voted out. Perhaps this is why Romney did so well as a venture capitalist and so poorly as a politician. I think he is brilliant, but perhaps has a little Asperger's syndrome such that his lack of empathy/social skills show up as not infrequent gaffes.
This is a really scary idea if it isn't controlled closely.
It will lead to more war in the Middle East.
Looks like Romney will have to find another country [WHERE HE HAS IS MONEY HID] to start a war. These GOP draft dodgers love to start wars and send other peoples kids off to get killed or maimed.How can he think the American Public will vote for a guy who doesn't even keep his personal money in that country. Don't know who is giving him advise but it isn't very good advise.
What Mitt is saying is that workers in China and India are becoming too expensive, and so he wants to move operations to the middle east and maybe northern Africa.
American workers will need to get comfortable with working for the minimum wage as any 3rd world nation.
Welcome to Mitt's version of the "Free market".
Romney sucks all the way around and he does not deserve to be president nor does ryan he is an a$$.
Lady Jag, and Obama is doing such a grand job?
Mitt's stand-up comedy routine isn't making it.
his impression of Reagan is horrible...
So basically Romney or Mr. Money himself wants to take more jobs away from Americans by giving Middle Easterners incentive packages to create businesses?
Why isn't he working with America to create incentive packages here in the U.S.?
Although I support Middle Easterner business growth countries like Saudi Arabia has more than enough money to provide the same incentives to their people.
What Romney is proposing will cause even more war in the Middle East and more hate for the U.S. as those who see such prosperity as an invasion of their territory.
They will attack and destroy such businesses thus causing even more tax payer money to be lost.
If Romney had any intelligence what-so-ever he would propose "Packages" of small business oppurtunity to the Middle East that they could purchase and then build theirselves without any involvement from the U.S. other than buying the "Packages."
The Middle East wants to upgrade to 21st century standards but they want to build their nation theirselves. They do not want someone like Romney bullying his way into the Middle East to build what the Middle Easterners who hate America would call empiralism.
Sell the packages to the Middle East and let them learn and build each package theirself.
Just wait until Romney tries one of his bankrupting schemes with a business in the Middle East.
They will not simple go away.
They will attack and kill until they have been satisfied that their betrayal has been quenched.
Where's Obama's Plan, oh that's right, he doesn't have one......
Unless you call giving aid to Egypt, while they kill American Citizens a plan....
Romney is right again.
U S Foreign Aid to those that hate us:
Egypt, for example, after voting 79% of the time against the United State,
still receives $2,000,000,000 annually in US Foreign Aid.
Jordan votes 71% against the United States
still receives $192,814,000 annually in US Foreign Aid.
Pakistan votes 75% against the United States
still receives $6,721,000,000 annually in US Foreign Aid.
India votes 81% against the United States
still receives $143,699,000 annually in US Foreign Aid.
Obama can not tell who is an Ally or Enemy. He is a hint Odumbo.
If they vote against you in the U.N., they are not an Ally. So don't give them money. Talk about a "no brainer". Popping a cap in Bin-Laden is not foreign policy, it is just an assination and murder with out due process. No bad for a peace prize winner.
Kuwait votes against the United States 67%of the time
Qatar votes against the United States 67%of the time
Morocco votes against the United States 70%of the time
United Arab& nbsp; Emirates votesagainst the United States 70%of the time.
Jordan votes against the United States 71%of the time.
Tunisia votes &nbs p; against the United States 71%of the time.
Saudi Arabia votes against the United States 73%of the time.
Yemen votes against the United States 74%of the time.
Algeria votes against the United States 74%of the time.
Oman votes against the United States 74%of the time.
Sudan votes against the United States 75%of the time.
Pakistan votes against; the United States 75%of the time.
Libya votes against the United States 76%of the time.
Egypt votes against the United States 79%of the time.
Lebanon votes against the United States 80%of the time.
India votes against the United States 81%of the time.
Syria votes against the United States 84%of the time.
Mauritania votes against the United States 87%of the time.
You know, ole mittens may be on to something when it comes to leveraging the private sector to help create more lasting economic aid packages, but i doubt he has the wit to use it properly. after all, he's the one who wants to just see how things play out in the middle east and gives advice to terrorists on how to terrorize the United States. but the idea of working with the private sector when it comes to foreign aid would probably be worth looking into...
Romney is 100% correct. Public/private enterprise and collaborations and investment does far more for sustainability, develoment and well being that merely throwing U.S. dollards at foreign aid democracy. This is one are where Romney is experienced and can how results. Unfortunately our President has done everything within his power to ensure that the chasm between publicc/private endeavors is as wide as can be. His finger pointing blame the corporations, etc. has done bupkus for our well being let alone that of foreign nations. We have so many amazingly intelligent and successful business executives that could bring their knowledge and talents to other nations. And those nations could then advancec and incorporate new ideas and systems just like we have. There is no reason why there aren't more international revenue bonds out there for investors. Just as we charge regulatory fees, useage fees, FCC fees, etc. so should other nations. Imagine international utility bonds being available to invest it. That is something I truly look forward to. Romney does have the right mindset when it comes to global incorporation of business enterprises. And we should be excited and supportive of new ventures that will enhance our development and well being and that of other nations.
Instead, we send billions in foreign aid to beef up other nations militiaries and get no return at all on our investment except for the fragmented maybes that someday after all the dust settles, these foreign funded nations will regain just a minimally normal economy. Growth really isn't enough if human development and enterprise isn't a part of that growth. And I think even Clinton knows that of the two candidates out there, Romney is far more qualifed and prepared to put aside ccontempt and disdain for public/private endeavors than Obama will ever be. Romney may be uber rich, and he may pay more in taxes than I will ever make in my lifetime, but I know he truly wants our country to prosper and regain our positive momentum. And yes, that does men working WITH business enterprises, and it does mean reading balance sheets and income statements, and does mean maybe redirecting money to agencies that are performing and showing results. But that' what we need to get out this rut. We need to stop worrying about what "class" you are being told you are in and start wanting our businesses to thrive and succceed. We need to get that respect back that we once had. And we need to share what we know with other nations so that we aren't just throwing foreign aid money at nations without a detailed accountability of where and how that money is being spent. I suppor public/private collaborations and its high time we start putting some focus and energy into this.
Obama Sweep! Now Leads in All Key States, Even N.C., Nevada, Colo.
It will be a sad day for America if he actually convinces you Obamaholics to vote him back in.
This is certainly a topic well suited for Romney. He sent hundreds, if not thousands, of American jobs to China and millions of tax free dollars to the his piggybank in the Cayman Islands.
Prosperity Pacts my A$$. More like
-use the Presidency to plug/privatize Corn/Rice production at the UN
-Use Education Nation to plug Bain Capitals - Bright Horizons private school
This man would sell his own Parent's to the Devil if would make him a buck.
Disgusting! What a snake Mittens really is.
YOU are expected to pay Top Dollar to Mitt and his Plutocrat buddies for Food, Education, Health Care, everything. And YOU will be shut up and be grateful to those Plutocrats.
This topic is perfect for Romney. He has already assisted China by sending them hundreds, if not thousands, of American jobs and the Cayman Islands by burying millions of tax free dollars there.
You don't have a clue as to what you are babbling about. Stop spewing unsubstantiated bs, it just makes you look stupid.
Mittens will make a mockery of the US. Selling every aspect of every commodity, trade, service or natural resource. Using the bully pulpit as his Personal Plutocrat Pulpit.
What a joke. WHO would vote for this insanely greedy, unscrupulous, dishonest, Carnival Snake Oil Salesman.
About 55% of eligible voters will be voting for him.
A joke and then a great proposal.
Mitt will be a vast improvement over what we now have. A jellyfish who doesn't use his position to blast terrorism in his speech at the UN. Instead he remains in denial and continues to demonise free speech.
Yeah, wasn't that gun-tooting bluster-schmuck the model for handling terrorism? Too bad he didn't get a SINGLE ONE. Hah!
GOP is obsolete. Obama then Hillary for 8.
Read it and Weep Baby!
Incoherent. You must be f'ed up on drugs
The disdain the 1% have for the Average Working American and the poor is so obvious, especially on the face of their "Champion Mitt RobMe"..
It's code for selling out American jobs on the cheap to foreign workers, as long as they allow free enterprise to run there systems of government. In turn this will cause the muslim world and small international communities in Mitt's mind to become dependent on us and thus we'll be able to control them. If they don't follow are lead we'll just blow them up with our "American Strength" and that'll be it for them. And I heard a quote on 60 mintues and correct if I'm wrong Mr. Romney said "I need to tell you that i want do soemthing in my 4 years in office that I'll be remembered for whether I get voted out my next term or not!!!" In other words all these changes that he and Paul Ryan want to implement in the name of better and lesser government is code for I'm going to come and do what I want as quickly as possible and if it means i walk away with 200 billion dollars and the American economy gets destroyed even worse then when I came in so be it.
Questions on the 'privatization' of foreign aid.
Well first of all, if you privatize foreign aid, can companies pick their favorite? hmm?
Are there any limits to the amount of aid?
Might the companies want a tax deduction for bribing a country(sorry, giving aid to their favorite)? That way an Exxon/Mobile can get oil rights cheaper than paying directly to our politicians, and get tax breaks for 'helping' the country.
Can these companies later 'refuse' to contribute to the aid if so inclined? What does Romney foresee us doing then? How do we make up the amount recinded. Any plan? Seriously?
I think this plan is just to give an advantage to large companies and friends of the GOP. It just seems so bogus.
Why dont they just pay TAXES as they were asked to?
This is Romney's application of Republican economic "theory" to impoverished parts of the world. Since poor people don't pay any taxes, having no money to pay them, money should magically appear out of the sky and "trickle down" to them. The fact that this "theory" has always failed in America does not restrain him from applying it to the poor of the world. On the other hand, what do they have to lose? At least Mitt can't send their jobs to China.
Sounds like Mitt (R-Money) wants to revive the corrupt corporatocracy which Latin America had with United Fruit and the Dulles brothers, where the CIA and state department were used to advance the interests of private companies by overthrowing inconvenient democracies in third-world countries.
Is Romney a Born Again Far Right Republican (not born again as a Mormon, they get born only once I believe)? In his earlier republican life in the 90's he was basically a democrat with pro choice and other liberal beliefs, even Ted Kennedy said his policies were getting takenup by Romney when they ran against each other for senator. So the Repubs trust a guy who basically was a liberal person in many ways until just a couple years ago? I guess that goes to show for Repubs, money can buy anything even love and admiration.
I just saw where the Romney campaign (and he is responsible for everyone that says anything remember per Romney) has to send false info about Obamas new madeup father and disgusting films full of lies to millions of households. Wouldn't it be nice if these two acted like men, plain old regular men. and would try to win fair and square instead of having to cheat, lie, beg, or whatever they have to try to win. How despicable and it shows they aren't men at all. Not even close. And apparently never will be. What kind of spoiled brat is Romney anyway. Throwing tantrums in Florida. At least he didn't hold anyone down to beat them up this time. Or cut their hair. Cheaters NEVER WIN. What disrespect this want to be man is bringing to our country. And as far as Ryan being the lesser of two evils. No he is the only evil. Those were his words. Just slimy want to be American men! They have a ways to go.And Obama is twice the man they will ever be. And I am hoping that as it says in the Bible when you are lied about and treated unfairly you are rewarded doubly. It does say that. I am hoping that is in votes. God hates false hoods and lies and people trying to create disharmony. Plain and simple. And the republicans wouldn't know the truth if someone tried to spoon feed them. Maybe they do. They just don't care what they have to do to win. They are losers either way. Simply disgusting losers! There is no other explanation for their gutless activity. IN politics there is a lot that is fair game. I would love to see them trying to explain this to God when they get to the pearly gates. And no I don't believe God will forgive someone that keeps doing and doing it and doing it. He said all that says Lord Lord will not enter the Kingdom of Heaven. And wide is the path but narrow is the gate. I think I am beginning to understand what that means. It means the devil will be dancing somewhere by the end of this campaign. Win or Lose. He has a lot of people entertaining him in the name of Christianity. And their despicable behavior does not promoted Christianity at all. What are these people thinking? Is winning worth losing your soul?