[afraidfortherepublic]

As much as I hate to admit it Hollings is right on this one. The traditional key to creating wealth is to take raw materials, add labor and sell the product. Once we have lost that capacity the only jobs left for our children will be in governmental or educational bureauocracy. But who and what will pay the taxes to support those bureauocracies?

Alan Greenspan's tightening of the Fed credit started this downward spiral in the manufacturing sector in the summer of 2000, and we're not out of it yet.

[Dane]

Alan Greenspan's tightening of the Fed credit started this downward spiral in the manufacturing sector in the summer of 2000, and we're not out of it yet

Huh????? Greenspan has been loosening credit. I guess the lowest interest rates in 40 years have passed you by.

BTW, have you been on Mars for the last three years, then I could understand your above italicized statement.

[William Terrell]

But who and what will pay the taxes to support those bureauocracies?

With all the jobs going overseas, taxing at the income level will mean increasingly lower levels of revenue. There has been a lot of behind the scenes work on a consumption tax. If that is implimented, we are lost, but I think that answers your question.

[fortaydoos]

Admitting hollings is right on this is like admitting he is right that we need air to breathe; it's an obvious truth once you examine the facts.

[GOP_1900AD]

There used to be an economic metric, used to assess how developed one country was versus another. The metric? "Value Added By Manufacturing."