Many thought President Obama would be the hope and change our country needed to see the middle class restored. Instead of following his campaign promises to renegotiate NAFTA, he has pushed for even more “free trade” agreements including KORUS, TPP and TTIP. Each of these trade agreements have caused our country to sink further into massive trade deficits, and have stripped well-paying manufacturing jobs from our shores.
Tag Archives: Barack Obama
“Free trade” has essentially 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 trillions of dollars have been lost through trade deficits caused by “free trade” on our end and protectionism on the other. The most significant flaw with all of our “free trade” agreements is that they are impossible to enforce. If “free trade” is impossible to enforce, competition becomes impossible. “Free trade” depends on the premise that all countries will play by the same rules. However, in the real world, assuring that this occurs is incredibly expensive, time-consuming and inefficient to contest.
When President Obama took office on January 20th, 2009, the total federal debt was over $10 trillion. As of July 2014, it has rise to over $17 trillion. That means that so far during President Obama’s term, our debt has increased more than $7 trillion, far more than any previous president. This is seriously bad news for American citizens since this means higher taxes and more debt.
The United States is facing economic disaster on a scale few nations have ever experienced. Most people are unaware of the easily observable signs of this crisis, where it came from and how to stop it. While we persist in our superpower mentality, we have quietly become a second-class country in many respects.