I have to admit I was asleep on this one too.

While the rich world was scrambling to get a grip on its credit markets, the poor world was sinking into a serious food crisis - of the kind that brings on riots (in a dozen nations already) and possible social and political upheaval (knock on wood).

The good news is that DC is waking up - in great part because it realizes that global social unrest is bad for national security.

The even better news is that a global crisis gives the US the chance to spread a lot of American good will - for a discount price.

Right now, we give about $2 billion a year in food assistance to the rest of the world (USAID). That's not a piddling sum - but when you think about the fed's $30 billion bail-out of Bear Stearns, the $100 billion+ in support after Katrina or the fact that we spend about $2 billion in one week in Iraq - we have a lot of room to be a heck of lot more generous.

Zoellick at the World Bank - a former US Trade Rep under Bush - has called on rich nations for $500 million in emergency food aid and $30 billion for development programs to deal with the crisis. I propose the US pony up $10 billion - a nice round number that is generous (the US accounts for about 25% of the world's GDP so paying 30% of the bail-out is a nice gesture) and doable. 

If we didn't want to add the $10 bill onto our debt-tab, one way we could pay for it is by cutting out "direct payments" to wealthy farmers, especially in years when they are making record profits. It just so happens that the farm bill in just about to be passed - with about $5 billion in direct subsidies headed to farmers each year. ("Counter-cyclical" subsidies - which go to farmers when crop prices fall - would still be left in for non-flush years.)

Wherever the money comes from, it's an opportunity we shouldn't pass up - or muck up by dragging our feet or handing over small sums. The world is still not crazy about the US - let's use this chance to remind them we can be the big guy - not just with military might - but with humanitarian help as well.