Why It’s in Our Interest to Support a Global Stimulus
by Sarah Anderson
Get ready for the boomerang effect. The economic crisis that originated in this country has spread to the farthest corners of the planet. Global poverty is expected to jump by 53 million people and another 51 million workers will join the ranks of the jobless this year.
This is bad news for U.S. workers who must compete in a global labor pool. As workers in Mexico, Haiti, and Indonesia become more desperate, they will be more vulnerable to union-busting and wage cuts that will undermine good jobs here. And as more impoverished countries face massive budget shortfalls, they are more likely to slash spending to fight climate change.
This is why it’s so important for President Barack Obama to offer concrete plans to help the world’s poorest as he makes his big international debut this month at summits in England, France, and Trinidad. In this interconnected world, helping other nations cope with the crisis is not just an obligation. It’s also in our interest.
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