On Sunday, Breitbart posted an article about the amount of money flowing out of America to other countries via Western Union.
The article reports:
In another example of the Trump effect, money transfer giant Western Union is reporting that its revenue from cash transfers to locations outside the U.S. has seen a 12 percent decline this year.
Migrants living in the U.S. both legally and illegally have traditionally been the greatest source of U.S. dollars flowing out of America and into foreign nations, even dwarfing the amount of foreign aid lavished on the world by the U.S. government. But with Donald Trump’s focus on immigration, Western Union is seeing far fewer customers needing their services.
The money that flows out of America through the hands of illegal immigrants is money that is not being put into the American economy. Having a large number of people working in America and sending their earnings out of the country puts a drag on the American economy.
The article notes:
“Recent policy changes have led to a substantial decline in border crossings and an increase in enforcement actions including workplace inspections and deportations which have created uncertainty and hesitation within migrant communities. These developments continue to impact customer behavior,” McGranahan (Western Union CEO Devin McGranahan) said during the call with investors.
The loss of business sent Western Union’s stock down 15 percent this year.
The article concludes:
In January 2025, Nicaragua received $373.5 million in remittances, for instance. A World Bank report found that remittances amounted to 27 percent of Nicaragua’s Gross Domestic Product (GDP) in 2024.
Other nations receiving huge amounts in cash sent home by foreign nationals living in the U.S. include El Salvador ($8.479 billion in 2024), Peru ($4.945 billion), Ecuador ($6.54 billion), and India ($135.46 billion).
By contrast, the U.S. government only lays out about $80 billion a year in direct foreign aid.
While many criticize foreign aid doled out by Congress, claiming that the U.S. doesn’t really benefit from the expenditures, remittances are fully a detriment to America. It is money that does not go to benefit our local stores, our schools, our cities, or anything else. It is cash summarily sent away to benefit other countries.
This is not small change.
