America’s economic problems are no secret. Nations like China are growing more and more economically powerful, while America is spiraling out of control. Losing an average of $600 billion dollars per year in trade deficits adds up, and the new low-wage economy neither brings in the needed tax dollars to run the country, nor gives citizens enough money to pay the bills. The more imports we buy, the more other nations prosper, and the more America falls deeper and deeper into third world status.
Tag Archives: economy
Our iconic, American property Waldorf-Astoria hotel which hosted Royals, Celebrities, and Presidents in New York City was just sold to the Chinese. Angbang Insurance Group, a Chinese insurance conglomerate bought Waldorf-Astoria for $2 billion. This year alone, the hotel hosted 30 different diplomats, heads of state, and presidents. The Chinese didn’t just buy another American company, they bought an American icon.
The American political system no longer operates with the American people in mind. Instead, lobbyists and special interest groups govern America according to their own agendas, not the agenda of the people. In order to see their goals achieved, these lobbyists and special interest groups—some of which represent foreign entities—buy up support from elected officials who have the power to push their agendas through.
Earlier this week during his debate against Alison Grimes, Mitch McConnell spoke many times about his commitment to creating jobs and helping the economy. Meanwhile in reality, Senator McConnell has one of the worst records on jobs and the economy in the Senate. During his time in the Senate, time and again he has supported “free trade” agreements that have come before the Senate for a vote.
Our economic base is crumbling. The U.S. at one point used to manufacture more than any other country in the world. Times have changed significantly and now we rely heavily on imports to survive. 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. “Free trade” has essentially led to the most massive wealth transfer in the history of the world. That is why we as American citizens need to be alarmed when we hear our elected leaders supporting “free trade” deals such as Senator Mitch McConnell.