Romney Touts 'Prosperity Pacts' To Help Middle East, Developing Nations

Saying that foreign aid must play a role in bringing peace to the Middle East, Republican presidential nominee Mitt Romney made the case today for what he calls "prosperity pacts" that would aim U.S. assistance packages at nations that develop "the institutions of liberty, the rule of law, and property rights."

Romney was addressing the Clinton Global Initiative in New York, a forum that will host President Obama later today.