China’s economy is growing at astounding rates, while ours looks to be slipping back into recession territory. This should come as no surprise, since China actually has a plan for their economy, while our leaders simply pay back favors to their campaign sponsors. Unfortunately for us, China’s plan includes our demise.
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The problems with the American economy are easily explained when we look at the so-called “plans” coming from Washington. While Republicans sit at home and Democrats gripe that their solutions for a stronger economy are a compromise, both parties ignore what got us in the economic mess we are now in: “free trade”.
While many politicians blame the lack of jobs on the federal budget deficit, it is actually America’s trade deficit that is the root of many of our problems. The U.S. is still millions of jobs behind where it was when the Great Recession started. The economy has been unable to create jobs due to America’s massive trade deficit caused by our failed economic policy.
The CDC estimates that 325,000 Americans are hospitalized every year from food poisoning, with 5,000 resultant deaths. Clearly, food safety is an important issue in this nation. Over 60 percent of imported food comes from developing nations, such as Mexico and China.
Theoretically, “free trade” sounds like a great idea. Consumers get the benefit of increased competition for their buying dollars, manufacturers get to locate or source from the lowest cost labor pool and exporters have the opportunity to sell into new markets with no tariffs. Unfortunately, there are fundamental real-world flaws that exist with “free trade” that have led to the most massive wealth transfer in the history of the world. The United States has not witnessed a trade surplus since 1975, and since then $4 trillion has been lost through trade deficits caused by the elimination of tariffs.