- an annual increase of 2.5% in per capita income,
- the establishment of democratic governments,
- the elimination of adult illiteracy by 1970
- price stability, to avoid inflation or deflation
- more equitable income distribution, land reform, and
- economic and social planning.
First, the plan called for Latin American countries to pledge a capital investment of $80 billion over 10 years. The United States agreed to supply or guarantee $20 billion within one decade.
Second, Latin American delegates required the participating countries to draw up comprehensive plans for national development. These plans were then to be submitted for approval by an inter-American board of experts.
Third, tax codes had to be changed to demand "more from those who have most" and land reform was to be implemented.
U.S. aid to Latin America
Because of the program, economic assistance to Latin America nearly tripled between fiscal year 1960 and fiscal year 1961. Between 1962 and 1967 the US supplied $1.4 billion per year to Latin America. If new investment is included, the amount of aid rose to $3.3 billion per year during this timespan while the total amount of aid was roughly $22.3 billion. " wiki cited below
Guess what, pilgrims, this old man worked on the ground in that program in 1964 to 1967. Honduras, El Salvador, Guatemala. I worked in all those countries.
Over all, the program was a total "bust."
Why? The latifundistas and gente decente simply dug in their heels and refused to give power to the campesinos, and also refused to implement reforma agraria but they took all the money offered by the US and stuffed it in their pockets.
Well folks, Joe doesn't seem to know that in those years and all subsequent years the US has through USAID provided massive amount of money for development in Central America and the same thing has happened in every year and every US administration. The elites there pocket the money.
Some ass will want to talk about the United Fruit Company long ago. Long. long ago.
Should the US seize power in these miserable countries and try to impose our concept of "reform?" Ah, we tried that in Iraq.
Does Joe think that his little contributions will be treated differently by the rulers in these places? Sad. pl