In recent years the U.S. has been steadily traversing down a path of destruction. While many Americans have begun to open their eyes to America’s plight, most are still oblivious to the factors that led to our downfall. Recently, the media has been touting recovery, but there are numerous urgent changes that need to be implemented before the U.S. can even think that we are emerging from today’s recession/depression.
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Usually, anything with the term “free” on it has a positive connotation: free cookies, free appetizer, free purse with the purchase of any item over $45, this salad dressing is fat free. However, using the example of “fat free,”when we ran some studies on supposed “fat free,” we found nasty results. Fat free use to be this great, healthy thing for our bodies and it turned out being the total opposite.
Recent economic reports, including some by the Economic Policy Institute (EPI), have delved into the devastating damages done to the American economy because of our sky-rocketing trade deficit. It’s no secret that the U.S. trade deficit is high. After all, our trade deficit is responsible for the transfer of over $1 billion a day to foreign countries. The EPI report took it a step further and claimed that our trade deficit increased our budget deficit by between $78.8 billion and $165.8 billion in 2012.
A number of disastrous policies and failed strategies have contributed to our current economic vulnerability. Our one-way “free trade” agreements, such as the North American Free Trade Agreement (NAFTA), the Korean – U.S. Free Trade Agreement (KORUS), and our relationship with the World Trade Organization (WTO), have opened our doors to a flood of foreign goods.
The key to better living standards is productivity, i.e., the ability to produce more over the same period of time. It was greater productivity that allowed humanity to rise up out of the jungle and eventually create the societies and the wealth we often take for granted today. A problem arises, however, when a society becomes more productive but the extra wealth accrues only in the hands a few.