For forty years now, our trade deficit has resulted in job losses, stagnant wages, massive foreign debt, and a decimated manufacturing industry. We are left with a weak middle class and an ear full of lies and false promises made by President Obama. He promised 1 million jobs and to this day he has not met his goal. America doesn’t make anything anymore because all of our manufacturing jobs have been shipped overseas. One by one we saw our factories disappear, leaving us with a trade deficit with other countries as we import more than we export.
Tag Archives: Unemployment
Have you ever wondered why corporations are getting bigger and richer, yet middle class America is getting smaller and poorer? It doesn’t make sense how profits have grown five times faster than jobs over the past decade. For instance, Verizon Wireless cut its workforce by over 30 percent while doubling its profits. In addition, wages have remained steadily stagnant. Although profits are rising and workers productivity has increased, wages remain the same. In fact, according to Thinkprogress.org, if the minimum wage had risen in proportion to worker productivity, it would now stand at nearly $22 an hour! So what is going on?
Instead of fair trade, America has turned to “free trade” as its dominant trading policy. This is like turning from milk to gasoline in your drinking policy. “Free trade” has taken America from the world’s superpower to a second-rate nation and it’s getting worse. Here are eight ways in which “free trade” is killing our economy.
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.