The Marshall Plan was the most forward-thinking foreign policy ever created. Granted, I am a little biased since Marshall is a fellow alumnus of my alma mater. He was VMI '1901.
The U.S. was at the top of its game - absolutely dominant militarily, economically, culturally as no nation had been before. We were filled with self-confidence and pride - justifiably so.
Europe and Japan were first-world nations destroyed by war. It made sense to help them rebuild for many reasons.
No one alive today has Marshall's status. The U.S. is a huge debtor. We have many enemies and many critics. Iraq is a third world country which has never had a united culture or polity, and has never competed successfully in the world economy.