Saturday, July 23, 2011
Offshoring of Production, (Globalization) Contributes to the Deficit
Real journalists and ethical politicians know no party divide and have this to say: http://www.globalresearch.ca/index.php?context=va&aid=23612"The other great contribution to the US deficit is the offshoring of production for US markets. This practice has enriched corporate management, large shareholders, and Wall Street, but it has eroded the tax base, and thereby tax collections, of local, state, and federal government, halted the growth of real income for everyone but the rich, and disrupted the lives of those Americans whose jobs were sent abroad. When short-term and long-term discouraged workers are added to the U.3 measure of unemployment, the U.S. has an unemployment rate of 22%. A country with more than one-fourth of its work force unemployed has a shrunken tax base and feeble consumer purchasing power. Read more:
One wonders when Congress will stop propping up corporate interests and globalization (the highest bidders) as oppossed to propping up the American people and their own country.
Only an informed citizenry, regardless of party, can be free. Be informed and inform others. Pass it on.
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Posted by Jeanette Borges at 12:51 PM