Tuesday, March 16, 2010

Dismantling America

Patrick J Buchanan
Though Bush 41 and Bush 43 often disagreed, one issue did unite them both with Bill Clinton: protectionism. Globalists all, they rejected any federal measure to protect America’s industrial base, economic independence or the wages of U.S. workers.
Together they rammed through NAFTA, brought America under the World Trade Organization, abolished tariffs and granted Chinese-made goods unrestricted access to the immense U.S. market.
Charles McMillion of MBG Information Services has compiled, in 44 pages of charts and graphs, the results of two decades of this Bush-Clinton experiment in globalization. His compilation might be titled, “Indices of the Industrial Decline and Fall of the United States.”
From 2000 to 2009, industrial production declined here for the first time since the 1930s. Gross domestic product also fell, and we actually lost jobs.
In traded goods alone, we ran up $6.2 trillion in deficits — $3.8 trillion of that in manufactured goods. Things that we once made in America—indeed, we made everything—we now buy from abroad with money that we borrow from abroad.
Over this Lost Decade, 5.8 million manufacturing jobs, one of every three we had in Y2K, disappeared. That unprecedented job loss was partly made up by adding 1.9 million government workers.
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