For decades now, we have seen our economy struggle to recover jobs that have been lost to outsourcing. We must now come to the reality that our failed trade policies are destroying our economy.
Tag Archives: Trade Deficit
Not only has “free trade” led to the largest transfer of wealth in the history of the world, but trillions of American dollars have been lost due to the removal of tariffs, resulting in trade deficits. Additionally, “free trade” agreements are nearly impossible to enforce because they assume that every participating country will play by the same rules. This is seldom the case.
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.
A study done by the Southern Education Foundation revealed heartbreaking information. For the first time in history, over 50 percent of U.S. public school students live in poverty. The report shows how children from poor homes has grown for the last 25 years. In 1989, 32 percent of our kids came from homes at or below the poverty line; today, it’s an overwhelming majority of American children. How could this be? “Free trade.” Our jobs have been shipped overseas for cheap labor and we have been left jobless, penniless, and a country filled with students in poverty.