Many big American corporations have figured out how to make billions of dollars in profits without using American workers. Our big corporations have sent tens of thousands of factories and millions of our jobs to China and other low-wage countries. Why use American workers, when cheap foreign workers can be hired for as low...
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The Harsh Reality
Not a “Normal” Recession
It appears that very few people realize that we are not recovering from a normal recession. Budget cuts, tax cuts, stimulus spending, etc. are not going to reverse our economic decline. We are suffering from a structural decline in our economy. Our economy is presently being propped up by $1.3 trillion in annual deficit...
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The Big Corporations Run This Country
Do you ever wonder why our politicians keep allowing the big corporations to send thousands of our factories and millions of our jobs to China and other low-wage countries? Even someone without a high school diploma realizes that closing a local factory, sending the jobs to China, and firing the local workers is bad...
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More Spending on Infrastructure?
Our current economic crisis is not caused by a lack of spending on infrastructure and education. We will not have a sustained economic expansion if we increase our spending on roads, bridges, education, etc. When the stimulus spending on infrastructure and education ends, the stimulus jobs will also end. And the stimulus spending will...
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If Our GDP Increases, Isn’t It Always Good for Our Economy?
An increase in our GDP is usually a good sign for our economy, but not always. Our GDP, Gross Domestic Product, is how we measure the value of all goods and services produced in our economy. It includes wages earned by American workers, including bonuses. But, even positive economic news, such as an improving...
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Why Extending the Bush-era Tax Cuts Won’t Help Our Economy
President Obama announced yesterday that the Democrats had joined with the Republicans in agreeing to extend the temporary tax cuts first put into effect during President Bush’s first term. President Obama also said that these tax cuts would help create millions of new jobs. This is the kind of thinking by our politicians, both...
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President Obama’s “Jobs Trip” to India
President Obama was in India recently claiming that trade with India was good for the US workers. President Obama said that $10 billion in US exports to India would create 50,000 jobs in the US, which works out to about 5,000 jobs for each $1 billion in exports. So, is trade with India really...
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The Election Results
I’ve been watching some of the election results. The economy is not going to improve during the next two years, based on the policies being promoted by the newly-elected politicians that I watched. I was hoping that I would hear at least one politician say that free trade was destroying our economy, and we...
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Politicians are Clueless!
After watching numerous TV commercials for the November 2 election, it’s obvious that our politicians are clueless when it comes to increasing jobs for American workers. The politicians are advocating things like tax cuts and using stimulus funds to build infrastructure projects. At best, they are only temporarily treating the symptoms of our economic...
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