Obama said he wants the Korea Offshoring Agreement (aka Korea U.S. FTA) to pass.  Caterpillar’s CEO Jim Owens has long been a major promoter of these bilateral deals which offshore jobs and investment. 

In the wake of Obama’s announcement, Caterpillar has announced its intention to buy Jinsung T.E.C., a heavy equipment manufactuerer, in South Korea.  Though they have laid off 22,000 workers in the U.S. this year.

If we had truly free and fair trade, those jobs could likely be here.  There would not be a Great Recession.  The investment could also likely occur here.  But it is not. 

And we are worse off because of it.

Obama needs to protect the national interest.  Not the multinational interest.

We need national economic goals.  A strategy.  We do not have one.  Everyone else does.