Good fiscal policy not only promotes macroeconomic stability and growth, it is also a powerful tool for directly reducing poverty and inequality.
History tells us that economic crises cause large increases in poverty. The most recent economic crisis will cause Latin America’s GDP to contract around 2 percent in 2009.
Even before a massive earthquake transformed much of the capital city of Port-au-Prince into rubble, Haitians were already bound together by the shared trauma of collective memory.
Since achieving independence in 1804 to become the world’s first free black state, Haiti has been beset by turbulent, often violent, politics and a gradual but seemingly unstoppable slide from austerity to poverty to misery.
Haiti represents one of the most complex and deeply rooted challenges facing U.S. foreign policy in the Western Hemisphere: a failing state on the doorstep of the world’s most powerful nation.