YOUR TAX DOLLARS AT WORK: The Millennium Challenge Corporation (MCC)Submitted by pawnstorm12 on Mon, 04/05/2010 - 06:19
From their WebSite: "The Millennium Challenge Corporation (MCC) is a U.S. foreign aid agency that is helping lead the fight against global poverty."
Doesn't that sound nice?
BUT THIS is just an instrument for the IMMORAL transfer of wealth from AMERICAN taxpayers to "poorer" foreign countries.
It sure is a pretty Web-Site though...
Note: Here is Federal Funding info for this program...
In Fiscal Year 2004, 650 million USD were provided for the program, with an increase up to 1.5 billion the next year.
For Fiscal Year 2007, 2 billion dollars were provided, a 14% increase over the previous year but still under the 3 billion target.
Again for Fiscal Year 2008, less funding will be provided than was hoped for, and only 1.2 billion is currently budgeted, and the CEO of the MCC commented that it would undercut the program's efforts.
In discussions of the Fiscal Year 2009 budget, the United States Senate has proposed that only half of the money needed for a compact be provided up front, as opposed to full funding for each one provident in advance, which officials at the corporation insist would be a "large step backward" causing too little aid to make an impact on recipient countries.
President Bush's 2008 Fiscal Year budget requested $2.225 billion, the first time since the programs inception that the amount was not $3 billion, and enough money for 5 compacts, several thresholds and administrative funding.
There is currently debate in congress as to how much to fund the program, with early numbers indicating it will be cut by 525 million, but there is a push by other senators to restore the funding.