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1.5 million more Americans would have jobs if not for Washington’s decision to pursue deficit reduction in the midst of a sluggish economy.
Unfortunately, news of successful deficit reduction is unlikely to result in any respite from new cuts or tax increases. The Obama administration still has its Social Security cuts on the table — as part of a potential “grand bargain” — and Congressional Republicans are gearing up to demand still more spending cuts in exchange for raising the debt ceiling.
First of all, I have a problem with politicians saying that they will make jobs, because it’s misleading. They will make jobs, but not jobs we want. They won’t make good, middle class jobs, they will make minimum wage jobs which can hardly support anyone. All the good jobs are disappearing because in order for companies to be competitive they have to outsource as much as they can to countries that have almost no protection for their workers. Sir James Goldsmith predicted our economic situation almost perfectly nearly 2 decades ago in his book The Trap.
The bottom line is, if we want good jobs to return to the US, we need to end international free trade and give some incentives for companies to come back here. As it is, any company that doesn’t produce outside the US, will lose their shirts to their competitors.