During yesterday’s White House Summit, President Bush expressed his view that America must remain committed to international development “regardless of the ebb and flow of the markets.”

Excerpts below, full transcript here

You know, we meet today in the middle of a serious global financial crisis. Over the past few weeks, we have seen how the world’s economies are more interconnected than ever before. The crisis is having a major impact on working people all over the world — including many in developing nations.

During times of economic crisis, some may be tempted to turn inward — focusing on our problems here at home, while ignoring our interests around the world. This would be a serious mistake. America is committed — and America must stay committed — to international development for reasons that remain true regardless of the ebb and flow of the markets. We believe that development is in America’s security interests. We face an enemy that can’t stand freedom. And the only way they can recruit to their hateful ideology is by exploiting despair — and the best way to respond is to spread hope.

We believe that we ought to remain committed to development because it’s in our long-term economic interests. When America helps developing nations rise out of poverty, we create new markets for our goods and services, and better jobs for American workers. And we’re committed to development because it’s in our moral interests. I strongly believe in the timeless truth: To whom much is given, much is required. We are a blessed nation and I believe we have a duty to help those less fortunate around the world. We believe that power to save lives comes with the obligation to use it. And I believe our nation is better when we help people fight hunger and disease and illiteracy.

-Chris Scott

Right after Bob Geldof spoke at the White House Summit on International Development yesterday, he spoke with CNN International on the White House lawn. ONE’s Tom Gavin was there and captured it on tape for our ONE Blog readers. Some of Bob’s most striking comments:

“I think there’s a great understanding that we can’t let the economic crisis turn into a human crisis. You know the food and fuel crisis already knocked the poor back and what we can’t let happen is the financial crisis smothers them…

The impact upon us by cutting aid to the poor will be enormous. This isn’t the time to do it. So you know I hate getting activisty emotional rhetoric, but it is betrayal to the weakest people. The problem with this for me is that the political commitment of the powerful to the weak is the most sacred promise you can make. It’s the powerful to the weak, the rich to the poor. When you break it you kill them. It’s really simple stuff this. “

The full video clip below, and transcript after the jump.

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Bob Geldof just finished speaking at the White House Summit on
International Development. As always, he spoke bluntly and honestly about the motivations for investing in development and the potential returns for doing so.

Bob said that America is unique in that it represents an idea, one that it must live up to it through its relationship with the world’s poor. In regard to potential calls to cut foreign assistance during this turbulent economic time, he noted that the U.S. currently only gives 0.2% of its gross national income to development, meaning that the remaining 99.8% can be used to improve the lives of people here in the U.S. Given the small percentage going to development, he asked about that 99.8%: “Isn’t that enough?”

Bob also spoke about the importance of the U.S. fulfilling the commitments it made to Africa at the 2005 G8 Summit in Gleneagles, Scotland. He said the if the U.S. keeps its promises to the world’s poorest people, then Europe cannot hide behind us and will be forced to do the same. Bob criticized Italy for slashing its foreign assistance even as it puts Africa on the agenda for this year’s G8 summit, which it will host in July.

Today’s speakers all helped highlight the difference between rhetoric
and results. The full impact of this difference is being felt now, as
lives and livelihoods hang in the balance. Bob gave this idea melody and
meaning.

-Josh Lozman