What is the sensible way to help foreign poor
The world has drastically changed in the last three decades with many developing nations advancing very rapidly. According to an article posted on CNBC on 9/26/2012 entitled "Countries with the most billionaires," the United States has the highest number of billionaires: 480; China is #2, with 147 billionaires; India, #5, with 109 and Brazil, number 9, with 49.
Due to its many short-sighted domestic and foreign policies, the United States is the greatest debtor nation in the world whose national debt exceeds $60 trillion including unfunded liabilities such as Social Security and Medicare. Conversely, within 30 years, China went from sympbolizing poverty to now holding the world's largest foreign currency reserves and being our largest foreign creditor.
On June 22, 2011 the Associated Press wrote in an article posted on CNBC: "The rapidly growing national debt could soon spark a European-style crisis unless Congress moves forcefully, the Congressional Budget Office warned Wednesday in a study that underscores the stakes for a bipartisan group working on a plan to reduce red ink."
In a MarketWatch.com commentary dated April 25, 2011, Brett Arends was quoted as saying: "According to the latest IMF official forecasts, China's economy will surpass that of America in real terms in 2016 - just five years from now."
On May 12, 2011 CNBC had an article entitled "Niall Ferguson's 4 Reasons Why US Dominance Is Over". In this article by Jeff Cox, Niall Ferguson, a professor of economics and history at Harvard, predicts that China becomes the new global leader.
Presently, tens of millions of U.S. born citizens and legal immigrants of diverse backgrounds still live in poverty. High unemployment affects all racial groups. In addition, a study released by Columbia University Professor Henry Levin in January 2012 reported that nationwide there are 6.7 million high-school and college dropouts between the ages of 16 and 24 costing American taxpayers over $1 trillion over their lifetimes. Therefore, American immigration advocates must realize that the United States is no longer the prosperous nation it once was. Americans who feel sympathy for foreign-born poor should not advocate immigration, but urge U.S. and foreign-born billionaires to work with impoverished nations' leaders, to curb population growth in each country, educate their citizens, and provide job opportunities locally. The Chinese and Brazilians have successfully improved life for their citizens so should other developing nations. Furthermore, on June 5, 2011 Associated Press reported in its article entitled "China shops for Latin American oil, food, minerals" that "Latin America is blessed with a wealth of natural resources such as oil, copper and soy ..."
It is simply irresponsible to continue to borrow from China and other countries, or raising taxes on struggling and hard-working American families, to finance our current or future needs. In addition, since U.S. residents have the most polluting lifestyle, population growth in the U.S. will cause greater damage to the world's environment.