Unfortunately for us, many of our “free trade” agreements have resulted in closed factories, soaring unemployment, and some communities engulfed in misery.
Tag Archives: economy
According to the U.S. Energy Information Administration , in 2014, energy produced in the United States provided about 89 percent of the nation’s energy needs. The remaining energy was supplied mainly by imports of petroleum. However, only 10 percent of that was renewable energy. The U.S. is one of the largest energy importers in the world. We used to be energy independent until the late 1950s when energy consumption began to outpace domestic production. During this time, the U.S. began to import more energy to fill the gap. It wasn’t until 2005 when imports finally began to decline and exports increased. However, much of our enormous trade deficit has energy to blame.
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 emerging crisis. While we persist in our superpower mentality, we have quietly become a second-class country.
Our failed trade policies have ushered in unrestricted, open access to American markets, with disastrous consequences. The results have been the destruction of our economic base. In place of tariffs, more and more countries are using border consumption taxes which put our exported goods on an uneven playing field. Businesses are either closing down or off-shoring, and U.S. jobs are being lost. If the United States were to implement a border consumption tax of our own, we could regain the jobs that have been lost to other countries who have used the border consumption taxes against us.
It’s time our political leaders opened their eyes and got a better understanding of how student debt has impacted the lives of young adults. A study released by Dr. Katrina Walsemann of the University of South Carolina revealed that the higher the student’s loans, the poorer his or her mental health is. When you combine an average of $30,000 loans per college graduate and no jobs in the U.S. you have a serious problem.