Nobel Prize-winning economist Joseph Stiglitz speaks with 'Democracy Now!' host Amy Goodman about President Trump's budget, which cuts 40% of U.S. funding to certain government programs, including foreign aid and diplomacy.
The United Nations said Wednesday that the Trump administration's proposed budget cuts would "simply make it impossible" for the UN to fund all its programs. The budget proposes reducing State Dept. funding by more than 30% and foreign aid by 29%. As much as $1 billion less could go to the United Nations next year under President Trump's plan.
JOSEPH STIGLITZ: The consequence of his proposal, I don’t think even he fully understands. For instance, we would lose the vote at the U.N. if he carried out his programs. I mean, so, basically, we’re—we’re saying to international—
AMY GOODMAN: What do you mean we’d lose the vote at the U.N.?
JOSEPH STIGLITZ: Well, because he’s cutting out all support for international organizations. And if we don’t pay our dues, our core dues, to the U.N., we lose our vote. And they’re an important source of our influence in international politics. So, you know—and this is a consequence of what he is proposing. There is no discussion of what the implications of this 40 percent cut in government. You know, there are some programs that can be cut. That’s clear. But he hasn’t gone pruning. He’s taken an ax and said, "Oh, I can get a balanced budget, if I make up numbers about growth and if I just pretend that I’m going to take a 40 percent cut from somewhere."