We are spending a trillion dollars to create or save maybe two or three million jobs. The research group -- Forester -- estimates we're going to off-shore over three million jobs just within the next few years. How many people here on FR, much less the media, are aware that one of the people on the One's Economic team is Diana Ferrell, the former director of McKenzie Global Institute. She authored a study that concluded "outsourcing has potential to increase the world's wealth and can even benefit the country that loses jobs." ------ tell me, how has losing millions of middle class jobs benefited this country??? (just asking) It's benefited the CEO's of the companies doing the sourcing, but not the middle class.
Everyone knows that GE started the outsourcing trend... Jack Welch actually demanded it of all GE vendors, but while Jeffrey Immelt sits on the Obama Economic team, GE's business plan is to increase outsourcing of its production to low-cost countries. Did you all know the "Jack Welch Technological Center" in Bangalore, India is now larger than the company's research center in America? What should be alarming to EVERYONE is GE's (and any companies) intent to offshore innovative technology... oh, well so much for that expensive degree you paid for your kid to obtain, unless he/she wants to move to India, odds are they are going to be in the same bucket as the poor guy in North Carolina that used to make fine furniture.
and.... the Chambers of Commerce in this country -- they pull the strings.. it is they who wanted amnesty, it is they who want the off-shoring of America. When the chambers talks productivity, efficiency and competitiveness, they are really saying cheaper or cheaper labor.
The joke is on the poor yokels that voted for Obama because he said over and over again that he was going to stop the outsourcing and mandate all the jobs be brought back to the USA... he got the union support because of that and now the unions -- who also have a seat on his economic table -- are strangly silent about the people sitting to their sides.
Secondly, even if we don't send them all back, we are talking about "middle class" jobs, that is, those that require educated people to do them.
We have a dire shortage of such folks ~ particularly as the 1% recession abates (you do realize, GDP only dropped 0.95% in the first quarter, right? ~ we have a "phony recession")
Over the long haul the United States has only rarely had enough people to fill its jobs. That's the normal condition here. Productivity improvement helps us make up for those shortages.