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NY Times opposes Buy American |
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Written by Stumo
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Friday, 07 March 2008 |
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The New York Times "economic experts" on the editorial board are defending the Air Force's decision to buy Airbus/Northrop Grumman refueling tankers and not Boeing's.
They mock those concerned:
The Air Forces selection of a European supplier over Boeing for
its next generation of tanker aircraft has sparked a frenzy of
predictable bipartisan complaints: How could the military outsource
these patriotic jobs?
Their question sets up a straw man, avoiding engaging in the
debate. The question is national security, and who should benefit
from spending our taxpayer money. America does not have the
capacity to ramp up defense production as in World War II.
Because we have outsourced our defense industry, along with other
industries.
Now I am not defending Boeing, an unpatriotic
outsourcer of high magnitude. Boeing, like the U.S. auto
industry, could have joined with us rational traders to make the U.S.
trade laws work for America. Boeing's has intentionally de-linked
itself from U.S. interests, so the U.S. should have little loyalty in
return.
But the point is this: When you spend government
money, let's benefit U.S. workers, farmers and businesses. FDR's
WPA program - which many hated - at least benefited U.S. citizens
directly with very little leakage. We give tax cuts for R&D,
subsidize universities, invest in U.S. infrastructure and hope for
economic returns.
It is legitimate to minimize leakage
overseas. If we pay the bill, we should get the benefits.
This is just common sense.
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In the news
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Colorado CPA member Milt Heft has these thoughts on money, wealth and the economy. Heft is the owner of Petrogen, Inc in Colorado Springs.
A few thoughts about manufacturing:
There is a great misunderstanding of the relationship- between money and wealth. The beginning principles with which we can all agree are a few and simple noble truths:
1. Money is meaningless without wealth.
2. Wealth is difficult to distribute without money.
3. Wealth is the reality of the physical things we need to survive and thrive: food, clothing, shelter, ice cream & computers. It is the product of mining, industrial production, and agriculture.
4. Money is anything that make the wheels of production and distribution go round.
5. Money is easy to manufacture and control.
6. Wealth takes a lot of blood, sweat, toil and tears.
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