This is so deeply flawed, it's sickening.
From 2/17/2008 What does this have to do with Obama's presidency?
Unnoticed by most Americans this week, the Obama/Hagel GLOBAL POVERTY ACT was quickly approved by a senate committee and cleared for the next step, debate in a democrat-controlled senate. The bill was drafted by congressman Adam Smith, and was passed in the House, months before Obama had anything to do with it.
The GLOBAL POVERTY ACT is unique in its breathtaking scope. It is not foreign-aid. The Act will require the President and Congress to set aside .07% of the annual gross national product – our GNP – to be distributed around the globe to relieve poverty at a cost of about $800 billion dollars annually to taxpayers. It IS foreign humanitarian aid, and it was endorsed by Pres Bush. Plus the cost to the govt (not directly from taxpayers) is 23 - 98 billion, or about one-tenth of your figure.
It is Barack Obama’s response to the call of the Bali Global Warming Conference for a global carbon tax; a blatant redistribution of the planet’s wealth to the “powerless”. No, again it's humanitarian aid, and not drafted by Obama.
Coupled with his riveting stump speeches which generate huge emotional reactions from his equally huge audiences – speeches which literally call for a redistribution of wealth right here at home as well – Barack Obama’s sponsorship of the GLOBAL POVERTY ACT gives us a chilling preview of an Obama presidency. Propaganda from the publisher, and the bill got killed in the senate anyway. Just give up!