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.
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The United States used to be a nation whose population, through hard work and sound policy, grew wealthier over time. Now, we are a nation whose middle class has nearly disappeared, whose workers’ wages have stagnated, and whose plutocrats become greedier and wealthier with each passing year.
The country’s largest solar panel factory is just about to open near Buffalo River in New York. This is causing a major economic boom in the state because of jobs and savings on energy cost across the state. The jobs opening aren’t just jobs at the factory but also companies moving to the state in order to use the cheap clean power.
“Free trade” has allowed unrestricted, uncontrolled access to our economy for goods made overseas at labor costs far below ours, sometimes for wages as low as $2 per hour, tariff- and duty-free. We cannot compete with these labor costs, so we must outsource our manufacturing or see our factories go bankrupt. The U.S. is rendered noncompetitive as the middle-class jobs we once depended on are sent overseas, further adding to the unemployment rate.