Reposted from Campaign for America’s Future
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Obama And Romney Keep Trading Jabs On Manufacturing And China
Steve Capozzola | September 27, 2012 | Campaign for America’s Future
The presidential campaign is in high gear, and both candidates are firing back and forth with “I can do more to save manufacturing than you can” and “I can do more about China than you can.”
With just over a month until Election Day, the Obama campaign has released a new two-minute ad with the President laying out his plan to “keep America moving.”
- Specifically, the president want to “create a million new manufacturing jobs, help businesses double their exports, and give tax breaks to the companies that invest in America, not ones that ship our jobs overseas.”
- He also points to aggressive trade action on China: “He has filed more China trade cases in one term than his predecessor did in two” and is “challenging China’s unfair trade practices that hurt American autoworkers.”
In response, the Romney campaign says that:
- President Obama has been weak on tackling China because he doesn’t want to “embarrass” them.
- The president should designate China a currency manipulator if he’s serious abut taking action.
Okay, fact checking on both sides…
1. President Obama has failed seven times to designate China as a currency manipulator, a clear departure from his campaign promises in 2008.
2. If Mitt Romney is so serious about tackling China’s currency undervaluation, why hasn’t he pressured House Speaker John Boehner to allow a vote on currency legislation?
Incredibly, Red China was already the 2nd largest US trade deficit nation, the Communists actually did predate NAFTA in the destruction of US manufacturing. 20 years later Perot can claim victory:
http://www.c-spanvideo.org/program/33071-1
Very well writen article with a unique analogy:
“Right from the very beginning there was only one possible outcome if free trade ever took hold in America. Industrial and economic collapse. Ross Perot knew it and tried to warn everybody. Very few listened. What is going on in America today, the factory closures, the unemployment, the debt, the experiment with globalism could not have come out any other way. Economic ruin was predestined right from day one when America signed on to NAFTA, GATT, the WTO and a raft of other free trade deals that have been signed in the last 20 to 25 years.
A national economy is very much like what the American family farm was at the turn of the 20th century. On the family farm mom, pop and the kids worked all year to produce as much as they possibly could to provide for their own needs for the upcoming year. Pop worked the fields and raised his livestock. Mom canned vegetables, cured meat, spun yarn and made candles. The boys chopped wood and helped pop where they were needed. The girls knitted socks, milked the cows and fed the pigs. Everyone did their part to produce the maximum amount of manufactured goods and agricultural produce they could.”
More:
http://www.sott.net/article/236533-The-End-Of-Free-Trade-Is-The-Only-Way-Out-Of-This-Depression
I would imagine few people under 60 know why we have “free trade” with Red China and why, by 1992, they were just behind #1 Japan in US trade deficit:
http://jnkish.blogspot.com/2010/03/e-richard-barnes-letter-nixon-free.html