"To require the President to develop and implement a comprehensive strategy to further the United States foreign policy objective of promoting the reduction of global poverty, the elimination of extreme global poverty, and the achievement of the [U.N.] Millennium Development Goal of reducing by one-half the proportion of people worldwide, between 1990 and 2015, who live on less than $1 per day."
If enacted, how much of a financial commitment would that represent to taxpayers?
One estimate is 0.7% of gross national product, or an additional $845 billion over 13 years in addition to existing foreign aid expenditures. So far, this proposal is barely on the MSM radar, but we're likely hear more about it as a full Senate vote approaches.
Here's how Senator Obama's website frames the bill:
"With billions of people living on just dollars a day around the world, global poverty remains one of the greatest challenges and tragedies the international community faces," said Senator Obama. "It must be a priority of American foreign policy to commit to eliminating extreme poverty and ensuring every child has food, shelter, and clean drinking water. As we strive to rebuild America's standing in the world, this important bill will demonstrate our promise and commitment to those in the developing world. Our commitment to the global economy must extend beyond trade agreements that are more about increasing corporate profits than about helping workers and small farmers everywhere." (emphasis added)
In other words, other nations will like us better if we give them our money. And, our trade agreements should not be about business profit, but benevolent social action.