A documentary on the well known tale of the rise and fall of Detroit, as it pertains to the free trade market.
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Tag Archives: Trade Deficit
U.S. Trade Deficit Fosters Unemployment
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, and now has less people employed than in 2001. The economy has been unable to create jobs due to America’s massive trade deficit caused by failed economic policy.
The Trade Deficit Reveals the Truth About Our Failed Trade Policy
The trade deficit is still a massive drain on the U.S. economy. It is estimated that each billion dollars of the trade deficit costs the United States 14,000 jobs. Overall, our trade situation is disastrous. The recent recession masked our situation slightly because Americans had less money in their pockets to buy imported goods, but that lull did not change the fundamentals of our condition. The trade deficit has been rising every year.
U.S. Left High and Dry Without VAT
One of the main reasons our Free Trade Agreements (FTAs) do not work is due to the fact that other countries immediately implement a value-added tax system after joining the World Trade Organization (WTO), while the U.S. still has not implemented a VAT.
