It’s neither democrats nor the Federal Reserve.
It’s the results of 40 years of bipartisan support for low tariffs and free trade agreements that have opened our markets up to competition from low wage labor.
Our citizens benefit temporarily from low priced goods, but then they lose their jobs and can no longer afford the low priced imports.
Meanwhile the portion of our citizens who remain employed still think they are benefiting from low priced imports but don’t associate the fact that they are now supporting 100 million Americans on food stamps with the cheap prices they are paying for imports.
Cheap Imports are EXPENSIVE when you add the indirect costs of American unemployment.
And yet, no one wants to talk about WHY those jobs were outforced overseas.
It is also almost 50 years of bad immigration policies that have no correlation to our job needs. We have to create 150,000 jobs a month just to keep up with immigration. The decade ending in 2010 was the largest in our history in terms of immigration--13.9 million-yet we had a net loss of 400,000 jobs during that same period.
The overall size of the working-age native-born population increased by 16.4 million from 2000 to 2013, yet the number of natives actually holding a job was 1.3 million lower in 2013 than 2000.
The total number of working-age immigrants (legal and illegal) increased 8.8 million and the number working rose 5.3 million between 2000 and 2013.