Americans were once again witness to another round of stimulus talk as the President spoke to the nation last week in his jobs package promotional speech. Those that argue this package is more of the same have every right to do so. This package sidesteps the President’s elected responsibility to govern this nation and instead offers the President a pro-reelection financial boost. This is unacceptable.
The root of our economic troubles is primarily related to our trade deficit and the failed trade policies that have allowed other countries to prey on our wealth. The graph below, which can be clicked on to view a larger image, basically tells the whole story.
While many Republicans, and even some Democrats, acknowledge that there is no money to pay for President Obama’s new jobs package, then why do they not acknowledge we can no longer afford hundreds of billions of American dollars a year flowing out of our country and into foreign businesses? Read the rest of this entry »