Thursday, September 24, 2009

G-20 Summit in Pittsburgh

When White House press secretary Robert Gibbs announced in May that the Obama Administration had chosen to hold the Group of 20 summit in Pittsburgh, Pa., the press corps broke out laughing. It's tough to blame them. The meeting, which started today and includes top financial officials from the world's 20 largest economies, carries with it a hefty security burden.

One article I read says, “While the designation is certainly an honor, hosting the G-20 doesn't really have economic benefits. In addition to security concerns, the host pays a premium. To hold March's meeting of the G-20, London shelled out an estimated $131 million - a big number for any city to absorb, and more than four times the expected cost. With fewer than 4,000 people expected to attend the Pittsburgh summit, experts say the local economy should see a boost of only about $8 million. And while the U.S. government is covering many of the city's costs, the Pittsburgh city council had to temporarily shift $16 million in funding to cover outlays that they say will be reimbursed eventually.”

The fact that 85% of the world's economy is represented in this group of 20 nations makes it an important event for this region of the country. But we also know that a wisdom greater than the G-20 leaders will be needed to heal our broken world. Pray that Almighty God grants wisdom to them in this and future summits.