[Congressional Record Volume 148, Number 53 (Thursday, May 2, 2002)]
[Extensions of Remarks]
[Page E676]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                                  IFAD

                                 ______
                                 

                             HON. RON PAUL

                                of texas

                    in the house of representatives

                         Wednesday, May 1, 2002

  Mr. PAUL. Mr. Speaker, Congress can preform a great service to the 
American taxpayer, as well as citizens in developing countries, by 
rejecting HR 2604, which reauthorizes two multilateral development 
banks, the International Fund for Agricultural Development (IFAD) and 
the Asian Development Fund (AsDF).
  Congress has no constitutional authority to take money from American 
taxpayers and send that money overseas for any reason. Furthermore, 
foreign aid undermines the recipient countries' long-term economic 
progress by breeding a culture of dependency. Ironically, foreign aid 
also undermines long-term United States foreign policy goals by 
breeding resentment among recipients of the aid, which may manifest 
itself in a foreign policy hostile to the United States.
  If Congress lacks authority to fund an international food aid 
program, then Congress certainly lacks authority to use taxpayer funds 
to promote economic development in foreign lands. Programs such as the 
AsDF are not only unconstitutional, but, by removing resources from the 
control of consumers and placing them under the control of bureaucrats 
and politically-powerful special interests, these programs actually 
retard economic development in the countries receiving this ``aid!'' 
This is because funds received from programs like the AsDF are all-too-
often wasted on political boondoggles which benefit the political 
elites in the recipient countries, but are of little benefit to the 
individual citizens of those countries.
  In conclusion, HR 2604 authorizes the continued taking of taxpayer 
funds for unconstitutional and economically destructive programs. I 
therefore urge my colleagues to reject this bill, return the money to 
the American taxpayers, and show the world that the United States 
Congress is embracing the greatest means of generating prosperity: the 
free market.

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