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January 22, 2011

Why look to open trade with other countries as the solution to boost U.S. job growth?

In an effort to boost our economy, and ladle out of the poop pot what is left of this country, the President is pushing to open our trade with our foreign friends who own most of our economy (China owns 20% of the US Treasury). Obama has been wooing President Hu of China in an effort to have the country invest in the United States even further, and also request that China stop making us look like incompetent morons by launching Chinese missiles off of our coasts.
During the summit, China announced $45 billion in contracts and said it would increase its investments in the U.S. by several billion dollars — deals that Obama said will support 235,000 American jobs.
That's awesome: sell out our country (even more) for a measly 235,000 jobs- most of which will be overseas? 


I am still waiting for President Obama to stop following in Bush's footsteps and pass some reform that will really give our economy a boost. Financial mismanagement from 2001 to 2007 helped to create the massive recession that has hit this country hard. Unfortunately, Obama hasn't really done anything to fix it. In fact, he has made it harder for us to recover- continued bailouts, failed attempts at fiscal stimulation (Cash for Clunkers), Health Care reform, et al. have hurt this country and the middle class who are the cogs in the economic wheel. 


To wit- Illinois has just increased the personal income tax by 66%, from 3 to 5%, and the Democrats are hailing it as a bold move that is a step in the right direction for getting the state out of debt. Business are fleeing for their financial lives as their taxes were raised to 7%. The tax hikes are good until 2015 and then they will drop a little at time. Good luck with that Illinois- there are plenty of States that have proven this type of stimulus does not work, with California jumping to the forefront.


Instead of looking overseas to countries who will eventually own us, let's stop making it a pain in the ass for our citizens to start businesses, get decent jobs and not have to worry about being taxed into oblivion.



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