Posted on 01/30/2009 8:11:27 PM PST by Kaslin
U.S. businesses and trading partners are up in arms over a provision the House bill that prohibits the purchase of foreign iron and steel for any stimulus-funded infrastructure project.
U.S. businesses and trading partners are resisting a new "Buy American" provision in the $819 billion economic stimulus package making its way through Congress.
The provision, included in the House bill that passed on Wednesday, generally prohibits the purchase of foreign iron and steel for any stimulus-funded infrastructure project.
The goal is to boost the U.S. iron and steel industries, which have been pummeled by the current recession. Shipments in the steel industry, for example, fell 40 percent last year.
Yet John Murphy, vice president of international affairs at the U.S. Chamber of Commerce, said 50 million Americans whose jobs depend on exports would pay the price.
"If the U.S. raises these barriers to international business, we're likely to see massive retaliation around the world," he said.
The massive tax cuts and spending package has moved to the Senate, where lawmakers are working on their own version that extends the "Buy American" initiative beyond the House's iron and steel mandates to include all U.S. manufactured goods.
(Excerpt) Read more at foxnews.com ...
most products are NOT made in this country. Even if they might be, their component parts are usually manufactured elsewhere, making it impossible to buy American., Sorry!
The Environazis and the Unions have been killing the domestic steel industry for decades.
Protectionism will be the final death knell.
We have learned NOTHING from history. The protectionism of America during the 1930's made the Great Depression a LOT worse and made it last a LOT longer.
Incredibly, we are heading right back into a Great Depression and repeating the same mistakes that made it worse!
These RATS are crazy!!
GD1, meet GD2.
To be honest, if they’re going to pass this horrible bill, that’s the last part of the provision that I’m against. In fact, I think it would make far more sense to use our labor and material.
With money follows authority. The state is growing, my friends. The ghost of Jefferson is crying.
Fixed it.
Communists == union workers in Obama's new USA.
No I don't mean all union workers are communists, just what Obama plans to use their union management for.
“In fact, I think it would make far more sense to use our labor and material.”
What kind of sense? Not economic sense. Ever heard of comparative advantage?
Yep. "Made in America" now more often than not means "Assembled in America" with American workers turning a screwdriver and not much else to get a nice American flag stamped on the box.
If American buisnesses were treated the same as forigen buisnesses, half of the problem would be over, the other half? if forigen buisnesses were treated to the same rules and regulations as US. And I hear how our new presidint is going to help the US economy by protecting American jobs while being totaly green, I’ll belive it when I see it. It’s not like any nation that did sign KYOTO has hever paid a fine, so why bother? How bout because it’s all BS?
We make a stimulus to send the money out to foreigners....with the purpose to create JOBS here!?
As much as I don’t think the stimulus is the right way of doing things, I don’t think giving foreigners money is going to reach the ends they wish to attribute to: more jobs.
I don’t support government printing fake money, but I have no problem with buying American.
Shades CLONE of Smoot-Hawley!
Welcome to 1929-1933 "Buddy can you spare a dime"
“We make a stimulus to send the money out to foreigners....with the purpose to create JOBS here!?”
Well, if American companies can cut costs by buying cheeper raw materials overseas, that would give them a better profit margin, which would make it more likely for them to expand production and thereby add jobs. There’s no reason that the stimulus bill has to create jobs specifically for the steel industry. I mean, unless there are powerful steel unions that must be pacified. I really don’t know much about that particular industry.
The stimulus bill has little chance of turning the economy around. Forcing people to pay more than necessary for steel won’t improve its chances.
Crazy like a fox. Once they destroy the private sector they will, to borrow a phrase, control the means of production.
** ...I don’t mean all union workers are communists,**
The Leadership of the Unions I do or have belonged to SURE ARE!!
UNION payback time!
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