Sunday, October 22, 2006

Fun with Numbers – The billions behind immigrant remittances…

I recently read a statistic that both shocked and intrigued me.

“According to the report by the Inter-American Development Bank, called "Sending Home Money: Leveraging the Development Impact of Remittances," 12.6 million Latin American immigrants in the United States will send about $45 billion to their home countries this year.”

Now let’s put that into perspective. $45B is enough to power the Iraq war machine for a solid 8 and half months. However, $45B is still only one sixth of what middle-America spent at Wal-Mart last year. After all, America needs their fix for cheap crap!

Back to the point, there are approximately twelve million illegal immigrants. So imagine for a moment if illegal immigrants were the only group remitting to their families. So now it would seem that the immigrants many politicians resent so much are willing to do more to keep their families on the “other side of the fence” than the US government.

Now in the midst of the “war on the American middle class”, 12.6 million immigrants are packing back $3750 a year to buy businesses and land. In the mean time the average American has been so busy burying themselves in financed debt, $8,562 per American family, many are now choosing between mortgage, medicine, food or gas. So I ask you, how much money did you
save last year?


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