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Written by Stumo
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Tuesday, 19 February 2008 |
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Hillary Clinton's campaign is featuring a more specific economic
plan. It covers many points, but not really in the detail sought
by policy wonks... understandable because most voters are not
wonks. The pdf document is here.
Among the trade related points are:
* Ending tax breaks for companies shipping jobs overseas;
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Restore a vibrant manufacturing sector in America by developing
a manufacturing strategy, investing in R&D, espanding a
Manufacturing Extension Partnership program, etc.
And more specifically:
* Double the size of the U.S. Trade Representative's enforcement unit to enforce the rules in existing trade agreements.
* "Modernize" Trade Adjustment Assistance to help workers that lose their jobs because of "global competition";
* Review trade agreements every 5 years to determine whether they are meeting their promises. (Note: See the CPA Trade Agreement Moratorium and Review policy here).
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Time out for Trade - This looks promising. Clinton will not enter
new trade agreements until "here administration has reviewed all
existing agreements and designed a genuinely pro-American, pro-worker
trade policy...". The devil is in the details, but its a good
start.
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In the news
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The following article appeared on the online site for Manufacturing & Technology News on November 17, 2008 and was written by Paul Craig Roberts, former Assistant Secretary of the Treasury in the Reagan administration.
By most accounts the U.S. economy is in serious trouble. Robert Reich, an adviser to President-elect Obama, calls it a "mini-depression," but that designation might be optimistic. Russian economist Mikhail Khazin says that the "U.S. will soon face a second Great Depression." It is possible that even Khazin is optimistic.
I cannot predict the future. However, I can explain what the problems are, how they differ from past times of troubles and why traditional remedies, such as the public works programs that Reich proposes, are unlikely to succeed in reviving the U.S. economy. |
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