News Release

October 2, 2008, 11 am edt

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The American financial system is in trouble because current trade and economic policies have hollowed out our economy.  Thirty-five organizations and 75 businesses have signed on to a single page diagnosis and plan-of-treatment for our economy.  Agriculture, manufacturing, labor, academics and former government officials collaborated to put together this statement.  This timely release will help the presidential candidates and elected officials think about, address, and solve financial crisis more effectively.

“The Coalition for a Prosperous America (CPA) is helping lead this effort to permanently solve America’s economic crisis,” said Brian O’Shaughnessy, CPA’s Co-Chair for Manufacturing and Chairman of Revere Copper Products.  “The financial crisis is a mere continuation of our accelerating trade deficits and record debt.  We need the leadership and resolve to address the fact that Wall Street is merely the most recent part of our economic system to crumble.”

“Our trade and economic policies have resulted in the offshoring of millions of jobs, wage stagnation, a precipitous decline in our food and agriculture surplus, and risk to our national security,” said Bob Baugh, CPA’s Co-Chair for Labor and Executive Director of the AFL-CIO Industrial Union Council. “But there are solutions we can enact now to rebuild our economy.  We do not have to continue America’s decline, but can choose strength and prosperity.

The signatories proposed these solutions to America’s trade and economic problems.

➢    SUPPORT policies that promote American interests by requiring full reciprocity, fairness, and transparency in all U.S. trade agreements, including in such areas as labor and environmental standards.

➢    SUPPORT actions to combat the illegal, mercantilist practice of prolonged currency misalignment, including legislation to make it actionable under U.S. trade law.

➢    SUPPORT aggressive enforcement of U.S. laws to halt foreign illegal trade activities such as dumping, subsidies and intellectual property theft.  In addition, U.S. policy must ensure that all goods sold here meet U.S. food and product safety standards.

➢    SUPPORT the elimination of tax disadvantages which undermine the competitiveness of U.S. producers both at home and abroad or which discourage investment in America.

➢    SUPPORT reduced U.S. dependence on imported energy.

“The Coalition for a Prosperous America led this effort to find common solutions to these problems.  I am proud of the result,”  said Joe Logan, CPA’s Co-Chair for Agriculture and Ohio Farmers Union representative. “We will present these solutions to the presidential campaigns and to Congress in the hopes that they will be adopted and enacted.  These are not partisan solutions, or special interest solutions.  We are interested in rebuilding American prosperity.”

CPA is a national, nonprofit organization representing a coalition of the agriculture, manufacturing and labor sectors.  CPA is working for a new and positive U.S. trade policy that delivers prosperity and security to America, its citizens, farms, factories and working people.

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MA Constitutionalists - Organizer
written by Jim Eckland , October 18, 2008

I continue to see Environmental and Labor Standards. Most of our problems are coming from third world nations which don't have the $$$ to
Clean up the environment. Also labor standards arent't going to help American Workers very much. The Problem we have lies in Foreign Trade agreements which are managed by International Trade Organizations such as the WTO !!! We need to consider getting out and manage our own trade. "GLOBALISM IS KILLING THE USA" as it is taking us down to their level. NAFTA IS ALOT MORE THAN JUST A TRADE AGREEMENT isn't it ?

Any Trade solution must include getting out of the WTO, NAFTA, CAFTA, Etc.

Jim Eckland

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V.P. PETROGEN, INC.
written by Linda Heft , October 03, 2008

Finally, the real truth! It just is not possible that several million defaulted home mortgages can cause serious world-wide reverberations. The worst that can possibly hapen is that the foreclosed homes are sold at low market value and the marginal losses are absorbed by the risk-taking paper holders.

Tyhe real culprits are American companies scrambling offshore because they are seduced by foreign countries offering artificially low production costs. They leave behind 4 million manufacturing workers who are tossed nto lower paying jobs and even unemployment. American take-home pay is lower, and unemployment is way up, 15% realistically. It is not surprising that foreclosures are up and credit is tight. Our international trade deficit of $700 billion per year is because we no longrer make anything that anyone else wants.

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Ed. Consultant
written by Donsta , October 02, 2008

What would the positive policy actually include and how would it effect agriculturists and manufacturers in 3rd world markets? Some of the decisions we make adversely affect the very poor.

Would this road to prosperity mean more of the same over extended credit buying? We need some good old pay and hold small indebtedness as your are able pay off each month. What about needed regulations?

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