We now rank in last place of 21 industrialized nations in our percentage of GNP invested in international responsibilities. Unfortunately, the decline in our foreign aid spending has not been matched with a commensurate decline in the need for foreign aid. For FY'98, the President's budget takes an important first step toward ensuring continuing U.S. global leadership in the 21st Century by calling for a modest increase in our international affairs spending. Even at this proposed level, which I am concerned that the Congress will not provide, international affairs spending would still constitute only slightly over one percent of the budget and 0.25 percent of the gross domestic product. We, as leaders, need to do a better job in leading and we need to do a better job in educating the American public that what happens in the rest of the world has an impact here at home.
Some pieces are already in place.
We can start by building on those pieces. There is strong support in Congress for funding for child survival activities. With leadership and education, we can expand this support beyond child health to include basic education, maternal health and the well-being of families. Our foreign aid account includes export promotion programs like the Export-Import Bank and the Overseas Private Investment Corporation. The underlying purpose of these programs is job-creation here in the United States through assistance to US companies competing overseas.