Free Republic

Pelosi Announces Hearing on Risks of Default to the U.S. Economy and Jobs July 06, 2011 Washington, D.C. – Democratic Leader Nancy Pelosi announced today that the House Democratic Steering and Policy Committee will hold a hearing this Thursday at 12:00 p.m. on the impact of a default on the United States economy, job creation, and seniors and the middle class. This hearing, the only one in the House of Representatives on this critical issue, will emphasize the pain the American people would face if the United States were to default on its debt. Witnesses for the hearing include: Bruce...

...Insourcing is what happens when foreign-headquartered multinationals operate subsidiaries in the U.S. These companies contribute both to U.S. economic growth and living standards.... Insourcing provided jobs for more than 5.4 million U.S. workers in 2002, or nearly 5% of total private-sector employment. These are good-paying jobs, too. Payroll came to more than $307 billion -- or 6% of all private-sector compensation. The average annual compensation at such companies was a tad over $56,000, or some 31% more than the average annual private U.S. compensation. The internal operations of insourcing companies also contribute to research and development and to capital investment......