Finance

(Cross-posted at On Day One) At long last, Congress has passed the 2008 supplemental appropriations bill -- and it includes $665 million to help fund UN peacekeeping missions, pay back U.S. debt to the UN, and contribute to key international organizations like NATO and the World Health Organization. In response, the Better World Campaign expressed cautious optimism in a press release that it issued on Friday:

"At a time when the United States is asking the United Nations to take on more and more responsibilities for peace, security and progress around the world, it is imperative that America honor its financial commitments to the UN," said former Senator Timothy E. Wirth, President of the United Nations Foundation and Better World Campaign. "America is a great nation and as such needs to pay its bills on time and in full. This legislation is an important step toward reducing America's nearly $2 billion debt to the UN," Wirth said. "If the President approves this budget request, U.S. debt to the UN will fall to $1.734 billion," said Deborah Derrick, Executive Director of the Better World Campaign. "In order to further reduce U.S. debt to the UN, and enhance America's reputation in the world, the Better World Campaign is calling on Congress and the Administration to prioritize payment of unpaid bills to the UN in the fiscal 2009 appropriations process," she said.

"Fall to $1.734 billion" may seem depressingly ironic, as such a sum means that the country with the world's largest economy still harbors an unacceptably bloated debt to an organization that it asks to take on so much around the world -- from Darfur to Iraq to, most recently, Zimbabwe. Even with this funding, the U.S. is still dangerously underfunding peacekeeping missions in places like Chad, Kosovo, and the Democratic Republic of Congo, jeopardizing the ability of these missions to be effective. Furthermore, the upcoming FY 2009 funding bill threatens to undo all of the gains that will be made by this $665 million. Nonetheless, there is a positive sign in Congress' decision of how to appropriate funds in the supplemental. The $665 million for UN causes will go not just to high-profile issues like the peacekeeping force in Darfur, but also to the less "sexy" -- but no less important -- cause of paying back the U.S.'s debt to the UN. Congress has made the statement that fully funding the UN is a worthwhile endeavor, and, in its work on the 2009 budget, it needs to make sure that this step forward is not canceled out by two steps back.

We all know that the U.S. is by far the largest debtor to the United Nations. In fact, the U.S. represents 94% of all debt to the U.N. regular budget. This means that 6% of the debt to the UN regular budget comes from other countries. Often people will respond by saying, "Of course the U.S. has the largest debt, since they are the largest contributors." This is certainly a valid point. The U.S. is expected to pay 22% of the UN's regular budget--more than anyone else in the world. Obviously then, if we miss any payment at all, it will represent a large percentage of the debt. The question then, is this: How does the U.S. proportion of the debt stack up to others when compared to the amount they are expected to pay? I crunched these numbers, and I found out something interesting. There are two countries that stand out when you compare their percentage of the debt and their expected payment: the United States of America and the Islamic Republic of Iran. Both of these countries have a percentage of the total debt to the UN regular budget that is 426% of what they are expected to pay annually. For comparison, Japan's debt stands at just over 5% of what they are expected to pay each year. This statistic says a lot about comparative attitudes toward the UN and engagement with the rest of the world. If this is the preferred measure of those who would withhold funding from the UN, it should give them pause to realize the company they keep by doing so.

We all know that the U.S. is by far the largest debtor to the United Nations. In fact, the U.S. represents 94% of all debt to the U.N. regular budget. This means that 6% of the debt to the UN regular budget comes from other countries. Often people will respond by saying, "Of course the U.S. has the largest debt, since they are the largest contributors." This is certainly a valid point. The U.S. is expected to pay 22% of the UN's regular budget--more than anyone else in the world. Obviously then, if we miss any payment at all, it will represent a large percentage of the debt. The question then, is this: How does the U.S. proportion of the debt stack up to others when compared to the amount they are expected to pay? I crunched these numbers, and I found out something interesting. There are two countries that stand out when you compare their percentage of the debt and their expected payment: the United States of America and the Islamic Republic of Iran. Both of these countries have a percentage of the total debt to the UN regular budget that is 426% of what they are expected to pay annually. For comparison, Japan's debt stands at just over 5% of what they are expected to pay each year. This statistic says a lot about comparative attitudes toward the UN and engagement with the rest of the world. If this is the preferred measure of those who would withhold funding from the UN, it should give them pause to realize the company they keep by doing so.