Financial Transparency Coalition

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The United States is about to decide on who will be the most powerful person in the world for the next four years. The two candidates had set lines and issues that they wanted to talk about. These are issues that likely will play a role in determining who wins the election. I can understand that they will act this way as candidates running in a competitive race. But what I can’t understand is how a veteran reporter and moderator like Bob Schieffer can forget about most of the world.

In 90 minutes, the conversation barely strayed away from talking about U.S. national security in the MENA region. A few quick asides mentions China-related policy and some U.S. domestic policy, but that’s it. The closest thing to talking about other important issues that came up were brief mentions of continents. The phrase “Europe and Africa” was spoke once. Governor Romney brought up “Latin America” very briefly. But then the conversation shifted back to MENA national security.

Bob Schieffer should have asked the candidates questions about a range of important issues. We have debates for a number of reasons other than deciding a competitive election, and chief among them is so that we can hold candidates accountable for their actions in office. When the next President takes office, he is going to act on these issues. They need to be on record talking about them.

Obviously, timing is an issue. The debate doesn’t go on forever. But here are three questions that Bob Schieffer should have asked.

What should the United States do to help combat global poverty?

Under Secretary of State Hillary Clinton, the Obama Administration has been quite innovative in some ways on this front. Specifically, their push for domestic resource mobilization in developing countries. Secretary Clinton has supported combating illicit financial flows through extractive industries transparency, helping developing countries collect tax revenue, and fighting corruption.

We at the Task Force believe that this is absolutely essential, and would like to see the President commit to expanding her work, and would like to see Governor Romney comment on the issue for the first time. Will the United States continue to function as a haven for the world’s tax dodgers and corrupt dictators? Would a Romney Administration have seized the corrupt assets of Teodorin Obiang?

What can the United States do to help prevent the Eurocrisis?

How did we get a full 90 minute debate without talking about one of the hottest issues in the world right now? The crisis in Europe has not been resolved, and its outcome has massive implications for the world economy. What will the United States do?

Tax evasion and tax avoidance, particularly in Greece, Italy, and Spain, is a key contributor to the Euro crisis. In Greece alone, Global Financial Integrity estimates that $261 billion has illicitly fled the country through crime, corruption, and tax evasion. Will the next administration work to break down the system of secrecy jurisdictions and tax havens that facilitate tax dodging?

Will the United States continue to crack down on corporate bribery?

Over the past five years, the United States Department of Justice has done a tremendous amount to clamp down on corporate bribery through the Foreign Corrupt Practices Act- listing it as their #2 priority after terrorism. Bribery not only creates countless victims in developing countries, but also undermines the free market here at home.

Will the Obama Administration continue their policy on corporate bribery, despite the public pressure that corporate lobbies are putting on them? Would a Romney Administration continue the policy of the Obama and Bush Administrations on this issue, or reverse it? We do not know, because no one asked the question.

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