Posted on 09/01/2009 6:58:35 AM PDT by SeekAndFind
Federal government purchases make up about 20% of the U.S. economy, yet the United States is almost alone among the major developed nations and China in not having a significant "buy domestic" government procurement program.
No single economic stimulus initiative would do more in the short and long term to resuscitate U.S. employment, especially manufacturing employment, and to materially reduce our economy-zapping massive trade deficit than a fair "buy American" program.
However, when even a fairly limited program was put forward in February as part of the economic stimulus plan, you would have thought that protectionist cowboys from the U.S. had attacked global motherhood and apple pie.
Representatives of our major trading partners immediately began discussing among themselves how to respond to the United States' alleged "protectionist drive," with China raging the loudest. Editorials overly influenced by the nation's self-serving free-traders hit several newspapers across the country, with the New York Times warning that "rather than supporting employment at home, the 'Buy American' effort could ultimately cost American jobs." And the usually credible Peterson Institute estimated that such an initiative would save or create a meager 9,000 jobs. But out of a total U.S. labor force of 155 million, the correct answer has to be at least a couple million or more because we are talking about transitioning so much of the U.S. economy -- most of nearly $3 trillion in annual government purchases -- to domestic-only origins.
In his first inaugural speech, President Franklin Roosevelt said that the nation's greatest task was "to put people to work." At the time, 13 million Americans were unemployed, and the economy was much better balanced between manufacturing and services.
(Excerpt) Read more at latimes.com ...
Yes, lets have the government waste our tax dollars on subpar products for twice the price
Brilliant
Does this “Buy American” idea extend to oil and gas?
Unfortunately, while “buy american” sounds great and patriotic, it is another failed socialist experiment.
First, it would increase similar efforts elsewhere and it would also raise prices at home (for US companies and local municipalities).
Freedom must equal free trade.
Very good point!
I’ll buy American, but not Union.
Is this the “Donald Riegle” who was the Dem US Senator from MI?
How can there be a buy American when you have a Anti American president with marxist/ muslim perspective?
This AINT america no more....
Free trade with other free peoples like ourselves. No free trade with communist slave states.
we must we we up!
You can’t buy much that is made locally any more. Most brand name “American” tools are made in CHINA!
Isn’t this the same idea that triggered a trade war in the 1930s?
It would be nice to have a list of American made produts.
While Americans are without jobs Obama is spending billions to help a Brazilian oil company (largely owned by George Soros)drill for oil off the coast of Brazil. Why not spend this money to help American companies drill for oil off our own coast?
“Free trade with other free peoples like ourselves. No free trade with communist slave states.”
No trade with California ?
I’m afraid China is nowadays more free than the US..
RE :”Yes, lets have the government waste our tax dollars on subpar products for twice the price”
there is a reason we bought foriegn and it’s called the ‘they owe me’ american lifestyle. I saw some progressive liberals say that free health care is deserved because ‘workers’ are underpaid in this country. Figure that.
“Isn’t this the same idea that triggered a trade war in the 1930s?”
Read all about it here:
http://en.wikipedia.org/wiki/Smoot-Hawley_Tariff_Act
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