Monday, July 25, 2011
Harvard economist Larry Summers tells us that a critical way to create jobs in the United States is to increase demand overseas. The best single tool for that is microfinance. Last week our local reps, Zoe Lofgren, Mike Honda, Anna Eshoo, Sam Farr, Pete Stark and Jackie Speier all signed a letter to USAID director to ask that USAID focus their microfinance efforts on the poorest. Loans, savings and insurance enable the poor, or anyone, to lift themselves from poverty and create jobs. The Microenterprise Empowerment and Job Creation Act, introduced last week, goes the next step to require and enable USAID to give effective assistance that will create the most jobs overseas -- and the most jobs here.
Peter Fiekowsky
RESULTS volunteer Los Altos
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