Skip to comments.Central America Border Rush Fueled By Remittances (US taxpayers prop up corrupt govts)
Posted on 06/28/2014 2:42:30 PM PDT by Liz
......52,000 unaccompanied illegals crossed the south Texas border this year.....as the political debate focused on immigration enforcement, a key economic factor has been lost in the clamor. Guatemala, El Salvador and Honduras, which are supplying three-quarters of the latest cross-border flood, and are dependent on their diaspora in the US to prop up their own woeful economies.
Immigrants send back billions of dollars to their families. Remittances have risen to 16.5% of El Salvador's GDP, 15.7% of Honduras' and 10% of Guatemala's, according to World Bank data. Nicaragua, the Dominican Republic and Bolivia rely on remittances for 4.1% to 9.7% of GDP.
But the figure drops precipitously for every other country in Latin America. Mexico, with the largest immigrant population in the U.S. with as many as 13 million people, now relies on remittances for just 2% of GDP.
Migrant remittances to Mexico were $22 billion in 2013, 29% below their 2006 peak.For Colombia, once a locus of drug-war violence, that has turned itself around, remittances are only 1.1% of GDP. Free-market star Chile's figure is 0%.
It's not surprising to see Central American leaders urging the U.S. to let the newest arrivals stay. Those migrants' remittances offer a lifeline to desperately poor countries. While the money goes to families, it helps the broader economy......and ultimately fills government coffers.
A 2008 Pew Research Center survey found that 54% of foreign-born Hispanics send remittances to their home countries, compared to 17% of U.S.-born Hispanics. Undocumented immigrants are believed to send more cash home than either.
Virtually all the cash received by the three remittance outliers is from the U.S. (Guatemala 89%, El Salvador 90%, Honduras 87%).
(Excerpt) Read more at news.investors.com ...
Fleas, ticks, and leeches.
Since 2002, these billions don’t even include the tens of hundreds of billions in tax dollars they’ve been given by our government right here...
Not to mention all irreparable damage at every level to our country...
That’s how the Philippines does it, except their money comes from their people actually WORKING overseas and sending the money home, not from welfare and under-the-table shenanigans.
US taxpayers handout billions in foreign aid to these do-nothing Third World hellholes-- specifically earmarked to subsidize their poverty populations.
Time to cut off US aid to these corrupt, do-nothing governments. US aid should be suspended until the countries tell us where the aid money is going......and demand they put out appropriate messaging to counter the ads said to be fueling the horrendous surge at the border from Central America.
NOTE WELL: US Aid figures do not include military aid and aid from other US agencies: El Salvador: $280.4M Honduras: $680M Dominican Republic: $223.7M Mexico: $958.2M Guatemala: $391.8M
This report shows US aid $s for the past few years (see page 9 (US Assistance) and pages 25-30 show various other agencies providing aid (DOD, etc.) (needs more research)
Most Americans are fed-up---and want the swarm at the border sent back from whence they came....but the buzz is conniving Central American govts are refusing to take them back.
THE FOREIGN AID MODUS OPERANDI---Former Guatemala Prez used US banks to launder millions (swindler was elected to "redistribute" the nation's wealth) An ex-president of Guatemala faced charges in NY that he used US banks to launder millions looted from his impoverished nation. Alfonso Portillo took office in 2000 pledging to redistribute Guatemalas wealth.
Portillo, 61, allegedly ran scams to drain the impoverished country's coffers. The feds say Portillo embezzled about $2.5M provided by the Taiwanese embassy....$1.5 million was earmarked for Libraries for Peace....books for school kids.
Portillo personally endorsed three, $500,000 checks issued against an account at the Intl Bank of China in Manhattan, then deposited the cash in the Miami bank account of a Guatemalan bank controlled by a close associate and political supporter .....the money was funneled to bank accounts in Paris in the names of Portillos ex-wife and daughter.
Portillo swindled nearly $4M defense funds ...and plundered the national bank run by his alleged co-conspirator through overdrafts financed by public reserves -- stolen money paid for expensive watches and cars, for himself and his associates, according to the indictment. (Source: NY POST news report 5/28/13.)
Yep and democrats are promising them a “Path to citizenship” as a form of indentured servitude.
It’s not fair!
We’re already propping up our own corrupt government!!
Interesting. Now if there were a way to stop or tax the bejesus out of these transfers...
Remittances to Latin America should be taxed at 10% to help defray costs of taking care of the migrant children. That would sure get Mexico’s attention.
“Thats how the Philippines does it, except their money comes from their people actually WORKING overseas and sending the money home, not from welfare and under-the-table shenanigans.”
Spain’s government is encouraging young people to do the same from Germany; as EU members they can work there (if they speak German and have a skill), and Spain desperately needs the money.