Our nation’s economy is a one-way ticket to running straight into the ground. Our jobs are shipped overseas due to the so called “free trade” agreements our political leaders have forced on us. Our middle class is diminishing and our trade deficit is growing by every second. Things are only getting worse.
Tag Archives: Manufacturing
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.
An active industrial policy geared toward recovering our manufacturing capability can work and has worked before. There are many examples of this from U.S. history, championed by both sides of the aisle. In fact, tariffs effectively built the wealth of this country and have been a very valuable tool for managing growth for the better part of 200 years.
There was a time when we protected our nation and had an economic plan. Because of this plan we became one of the strongest nations on the earth. Much has changed and if we do not work for our best interest we will lose what little is left of our economic strength. Our downfall has not been mere chance—it has been a result of an economic war China has waged on the U.S.
When NAFTA (North American Free Trade Agreement) was passed, many people feared the worst. The results have indeed been disastrous for the U.S. Economy:
- The trade deficit with Mexico has exploded
- Mexican wages remain nearly as low as they were prior to NAFTA and are still a small fraction of our average wages
- Wealth and power has not filtered to the people. Most of Mexico is still controlled by less than 100 corporations in Mexico
- Many of our other trading partners have relocated facilities to Mexico to circumvent other trade agreements with the U.S.
- American manufacturing has lost 1 million jobs in the past 20 years as U.S. companies have also moved to Mexico for lower wages and lax regulation