A lower U.S. dollar makes your exports more competitive price-wise with Canada and the E.U. This is good for the U.S. manufacturing sector, likely will result in job creation.
Another good trade-off is that imported cars will be more expensive than before, resulting in growth among domestics (GM, Ford).
On the flip-side, it will be more expensive for Americans to travel abroad. There's always trade-offs when it comes to changes in the value of the dollar. Some good, some bad.
A decline in real purchasing power is also one of the trade-offs.
Don't forget to include BMW, Toyota, and Honda in the "domestic" column. We need to stop the scourge of insourcing ASAP!
"On the flip-side, it will be more expensive for Americans to travel abroad."
Let the broad pay her own way, LOL! ;)
We just returned from Puerto Vallarta, Mexico and received 11.5 pesos to the American dollar. The Pound as 19 to 1! (There were quite a few Aussies and English there, actually.) We lived like kings for the week and spent waaaaay too many of those pesos on Corona. *Hic*
This good news was unexpected. I blame President Bush! :)