June 25th, 2010
05:00 PM ET
12 years ago

Is a billion-dollar summit worth it?

Washington (CNN) - Like Dr. Evil learned in the Austin Powers movies, a billion dollars isn't quite what it used to be.

This weekend's G8 and G-20 summits are expected to top $1 billion in costs. At such a large price tag, it's reasonable to ask if the meetings are worth it. But according to former top White House aides, even with the hefty price the meetings more than pay for themselves in both tangible and intangible ways.

According to David Gergen, who worked for five presidents and has participated in several of these summits, the world has already seen a return on the current $1 billion investment.

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Filed under: G-20 • G-8
soundoff (12 Responses)
  1. Mark from Louisiana

    If obama is there, I wonder what George Soros instructed him to say and do at the summit?

    When George tells obama to jump, obama says "How High Sir"

    June 25, 2010 05:17 pm at 5:17 pm |
  2. Henry Miller, Libertarian

    Hey, it's not their money–every dime of that billion bucks came–by taxation or some other form of extortion–from the people of the countries involved. The governments of those countries don't care how much it costs.

    June 25, 2010 05:22 pm at 5:22 pm |
  3. GI Joe

    Mark – that money that was sent to Soros?

    Fact check it – IT WAS SENT BY G. W. BUSH YEARS AGO.

    June 25, 2010 05:30 pm at 5:30 pm |
  4. Claudia, Houston, Tx

    These summits are as necessary as our relationship with other countries, the buck doesn't stop in the U.S. alone.

    June 25, 2010 05:33 pm at 5:33 pm |
  5. Allen in Hartwell GA

    Why should we care how much it costs for the leaders of these 20 nations to get together? The US alone is spending half that everyday in Iraq and Afghanistan for no return at all on our money.

    June 25, 2010 05:35 pm at 5:35 pm |
  6. thor

    This summit will not create one single job for anybody in the USA !!Obama hasn't done much to create jobs in this country other than temporary census workers.I don't see much in the employment numbers in the near future, if anything it will get worse.

    June 25, 2010 05:40 pm at 5:40 pm |
  7. chelle

    Actually Henry...the people of Canada do care!!! And are disgusted with what the money has been spent on.... A FAKE LAKE for journalists??? Gazebos??? New washrooms??? Give me a break....

    June 25, 2010 05:41 pm at 5:41 pm |
  8. Joan

    Anytime you can get the most influential leaders in the whole world together for talks and friendship, it cannot help but be beneficial. These talks are going to affect us all in the future so we should all be following it really closely. I'm pretty surprised how little of it is being covered by the cable networks because it is pretty important. I guess it isn't as important as the anniversary of Michael Jackson"s death though.

    June 25, 2010 05:50 pm at 5:50 pm |
  9. tjaman

    That was ONE MILLION dollars, and sharks with laserbeams attached to their heads. 😛

    June 25, 2010 06:08 pm at 6:08 pm |
  10. Hugo

    Maybe we can add another billion and they will keep him!

    June 25, 2010 06:16 pm at 6:16 pm |
  11. LacrosseMom(the real one)

    What's the point of your headline CNN? The G-8 & G-20 summits have always been expensive! What do you suggest?


    George W. Bush created ONE million jobs in 8 years. Fact (look it up).

    Barack Obama created from Jan. -Jun of 2009: 682,000 plus.

    June 25, 2010 06:39 pm at 6:39 pm |
  12. George of the jungle

    we live in this world. unfortunatly we have to spend money to be part of it. I know most repos don't see it that way. But then they spend all their time saying No and bashing this administration and name calling. Thats obvious by the comments here from people like Thor ( what kind of a name is that? Sounds foreign maybe we should check and see if he has a birth certific.Or from Mark from Lousianna. He adds a lot to this artical. Henry didn't you write that dirty book?

    June 25, 2010 07:22 pm at 7:22 pm |