In 2013, the United States spent over $300 billion on importing oil. Essentially two-thirds of the country’s entire annual trade deficit can be blamed on oil imports! Oil is sucking hundreds of billions of dollars a year out of the U.S. economy. If we became energy independent, our trade deficit would be cut tremendously. Not only that but our money could begin to go to American-owned energy producers.
Tag Archives: Unemployment
Unfortunately for us, many of our “free trade” agreements have resulted in closed factories, soaring unemployment, and some communities engulfed in misery.
Our recent economic crisis has led us to wonder what our country is coming to. After decades of failed “free trade” policies, we are on unstable ground. The manufacturing base of our once-great economy has been sold off to foreign interests, who have in turn shipped the jobs overseas.
The Trans-Pacific Partnership is a “free trade” agreement that, if passed, would unite the economies of Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore, Vietnam, Mexico, Canada, Japan and the United States. The trade negotiators from these countries meet secretively behind closed doors to continue their work on drafting the terms of the Trans-Pacific Partnership agreement (TPP). Little has been revealed about what is discussed during the closed-door meetings, other than the fact that the lobbyists and government representatives want to “accelerate” the trade negotiations. When it is finalized, the consequences for the United States will be disastrous. Below are six reasons how the TPP affects you.
U.S. restaurants are planning boosting prices 2 percent due to the pressures of rising beef, cheese, and pork prices. However this is causing major declines in sales due to people being price sensitive and not being able to afford higher meal prices. “If you encourage and kind of seed the notion that you can come in for a couple bucks and get some food, and then you can’t do that anymore, there’s bound to be a reaction,” said John Gordon, an adviser to restaurants and franchisees.