Lost: 600,000 Jobs

IBD Editorials ^ | September 17, 2009 | INVESTORS BUSINESS DAILY Staff

[Kaslin]

Economy: As if Big Labor hasn't been repaid enough for its help in electing Democrats, a new report shows that protectionism — the unions' signature issue — costs 585,000 of the rest of us our jobs.

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It's not enough that unions got the cream of the $80 billion in auto industry bailouts or the center cut of the $787 billion stimulus package or a smorgasbord of regulations — from union transparency laws to court-ordered supervision — rescinded by grateful Democrats in Congress and the White House.

But the biggest payoff has been in the form of protectionist measures being applied across the U.S. economy. They include "Buy American" provisos, a Mexican truck shutout, tariffs on Chinese tires and, worst of all, the halting of free trade treaties with Colombia, Korea and Panama. Up next: tariffs on steel pipe.

The aim is to preserve a few thousand jobs at most, but it's coming at a high price. On Monday, the U.S. Chamber of Commerce released a comprehensive report called "Trade Action: The Cost for American Workers and Companies." It describes how the Obama administration's trade decisions, all of which were sought by Big Labor, have so far cost 585,000 American jobs.

[Kaslin]

[coconutt2000]

Read about this happening several times in our history. Each time the economy nose dived, and with the exception of Roosevelt, I think the Presidents involved only served one term.

[Kaslin]

Yeah but you know zerobama inherited the bad economy /s

[Don Corleone]

Read about this happening several times in our history. Each time the economy nose dived, and with the exception of Roosevelt, I think the Presidents involved only served one term.

IMHO this president may think that he has enough support to cut off further elections...notice his affinity to the usurper from Honduras. Its always on his mind.

[Brilliant]

The recession is over. What happens next can’t be blamed on Bush.

[Springman]

Good artical, but I don’t want Mexican truck drive here. Can’t trust some of the American drivers,

Don’t want to worry if thier brakes will work?

[reader25]

We will continue to lose nonunion and non government jobs until the unemployment reaches 25%. The stimulus was passed to shore up government spending on government and that's all.

Obama bailed out the banks and now the two largest banks are government owned. He bailed out GM and Chrysler fired the CEO’s and gave majority ownership to the the unions and the government still large portions of those companies.

Now the Administration starts a trade war with China over tires. The purpose; protect the unions whose members make all US tires.

Now we have health care and the government wants to take over 1/6 (about 18%) of the US emonomy. If Obama and Congress succeed then all future elections will evolve around health-care and what we can afford. They will use this issue to seize larger portions of your income. And soon those working individuals will have an effective tax rate of 80%.

So the plan is simple; make the freedom loving citizens so miserable that they will accept more government control in their daily lives. Once that happens there is no going back and the US as we know it today will not exist any longer.

What in the Constitution authorizes the President or Congress to do these things. I remember that the President and members of Congress had to take an oath where they swore to uphold the Constitution not to subvert the Constitution.

[Kaslin]

0bama does not care about the Constitution. He is the king

[Kaslin]

It can not be blamed on President Bush period. The only one it can be blamed on are the demonRats in the House. Remember there was nothing wrong with the economy when the Republicans had the majority in the House. The economy was thriving and unemployment was practically nonexistent. Things changed though when the rats took over in January of 2007

[nascarnation]

protect the unions whose members make all US tires.

I don't believe all US tire plants are unionized.

I'm almost sure the Michelin plants are not - I interviewed for a job at one in the 80s. in S. Carolina.

any experts chime in?

[UScbass]

OBO will say there would have been 1,000,000 jobs lost (Bush’s fault, of course - not), so he(OBO) saved 400,000 jobs.

[JohnBovenmyer]

Any comments from the many fans of FR's favorite protectionist, otherwise sterling conservative but noted anti-Free Trader, Duncan Hunter? Arguments that any particular trade deal isn't as "free" as claimed can be true although impression is most such arguments echoes Joe Wilson on Obama. Protectionism claims regarding specific items on national security grounds can be real, but probably the majority of such are in the same class. Arguments that the concept of Free Trade doesn't work ignores simple mathematics and an overwhelming amount of history. I may accept a few narrow exceptions, but the bar should be set very high for them and the benefit of the doubt should always favor Free Trade.

[ronnie raygun]

But they SAVED 100 billion! Look what there doing to the farmers out in California. They purposely and deliberately turned the water off, put 40,000 workers out of work and on food lines and this will skyrocket the cost of food for all of us. If this isn't domestic terrorism against the American people what is?

[Tempest]

I don’t see how the article proves that protectionist measures equate to 600,00 lost american jobs?

[Tempest]

From the article:

"Consumers also pay $739 million "drayage" costs of transferring Mexican truck goods to American trucks, plus additional shipping. Net cost: 25,600 jobs."

Sounds like it's creating American jobs while keeping the illegals out. Awesome, who can't agree with that. Unless you're Juan McCain....