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Buy American
Author: BobR
Date: 02/04/2009 13:03:22
I've noted before that when I was growing up, the unions would have commercials exhorting us to "look for the union label". That was back in the good old days when clothes were actually made in the U.S., and the workers in the factories were frequently unionized. After Reagan essentially broke the backs of the unions, and imports were becoming popular, the call was to "buy American". After 9/11, Bush asked us to just "buy buy buy".
Of course - for most Americans, "buy buy buy" means "charge charge charge". As a result (in addition to the housing bubble), the amount of money lent out by banks began to exceed their ability to cover the loans. Thus, the banking industry imploded and we are left teetering on the precipice of another depression. The latest "are you kidding?" bit of news is that California is broke and has halted all payments. This is serious stuff.
Just like the last depression, the president is proposing we spend money on jobs, so that the pay these workers receive gets circulated back into the economy, hopefully revving it back up. I already covered in a previous blog how the Republicans want to use tax cuts for their magical trickle-down theories, so I won't go over that again. This time, the controversy is over Buy American.
The bill has some references to buying American-made products for infrastructure projects. One would normally assume that the Republicans are insisting on this language. One would be wrong. Oddly enough, along with our trading partners, the Republicans want that language taken out:
Even stranger? Obama agrees with them:
While I understand the concern that protectionism helped create and extend the Great Depression, perhaps we need to tell our trading partners that we just want to reduce our trade defecit, which is averaging about $60 Million/Month. Simply reducing our trade deficit to zero would put $720M/Year back into our economy.
While I can understand that private companies shouldn't be forced to buy American only, the U.S. Government should at least try to buy American whenever possible. It is, after all, our economy we're trying to stimulate with our tax dollars (and the tax dollars we're borrowing from our children and grandchildren to pay for this). It's become increasingly hard for Americans to find products made in the U.S.; it's not too much to ask our government to buy American when it can. After all - aren't we trying to create jobs here in America?
Of course - for most Americans, "buy buy buy" means "charge charge charge". As a result (in addition to the housing bubble), the amount of money lent out by banks began to exceed their ability to cover the loans. Thus, the banking industry imploded and we are left teetering on the precipice of another depression. The latest "are you kidding?" bit of news is that California is broke and has halted all payments. This is serious stuff.
Just like the last depression, the president is proposing we spend money on jobs, so that the pay these workers receive gets circulated back into the economy, hopefully revving it back up. I already covered in a previous blog how the Republicans want to use tax cuts for their magical trickle-down theories, so I won't go over that again. This time, the controversy is over Buy American.
The bill has some references to buying American-made products for infrastructure projects. One would normally assume that the Republicans are insisting on this language. One would be wrong. Oddly enough, along with our trading partners, the Republicans want that language taken out:
The US Senate should strip a "Buy American" clause from President Barack Obama's economic stimulus plan, the chamber's top Republican said Monday amid anger at the restriction from US allies.
"I don't think we ought to use a measure that is supposed to be timely, temporary, and targeted to set off trade wars when the entire world is experiencing a downturn in the economy," said Senator Mitch McConnell.
[...]
The House of Representatives last week voted to require that public works projects funded by its 819-billion-dollar stimulus bill to use only US iron and steel. The Senate version extends that restriction to all manufactured goods.
Even stranger? Obama agrees with them:
President Barack Obama said on Tuesday he did not want to send a protectionist message on world trade and would look at altering "Buy American" language in an economic stimulus bill coming out of Congress.
"I think it would be a mistake ... at a time when worldwide trade is declining for us to start sending a message that somehow we're just looking after ourselves and not concerned with world trade," Obama said on the Fox television network.
His comments came as the U.S. Senate was debating a nearly $900 billion economic stimulus plan that allows only U.S.-made iron, steel and manufactured goods to be used in public works projects funded by the bill.
While I understand the concern that protectionism helped create and extend the Great Depression, perhaps we need to tell our trading partners that we just want to reduce our trade defecit, which is averaging about $60 Million/Month. Simply reducing our trade deficit to zero would put $720M/Year back into our economy.
While I can understand that private companies shouldn't be forced to buy American only, the U.S. Government should at least try to buy American whenever possible. It is, after all, our economy we're trying to stimulate with our tax dollars (and the tax dollars we're borrowing from our children and grandchildren to pay for this). It's become increasingly hard for Americans to find products made in the U.S.; it's not too much to ask our government to buy American when it can. After all - aren't we trying to create jobs here in America?
Comments:
Order comments Newest to Oldest Refresh Comments
Comment by 
wickedpam on 02/04/2009 13:48:53
wickedpam on 02/04/2009 13:48:53
Morning :hug:
I don't get it, why is it every other country in the world can focus on buying products made in their own country to help their economy but when we do it's selfish and protectionist..... *sigh* (sorry just a bit cranky)
I don't get it, why is it every other country in the world can focus on buying products made in their own country to help their economy but when we do it's selfish and protectionist..... *sigh* (sorry just a bit cranky)
Comment by 
Random on 02/04/2009 14:09:14
Random on 02/04/2009 14:09:14
I...am....pissed...
btw. Great Post BobR
P.S.
I missed my home here.
btw. Great Post BobR
P.S.
I missed my home here.
Comment by 
BobR on 02/04/2009 14:11:01
BobR on 02/04/2009 14:11:01
Comment by Random on 02/04/2009 14:12:49
Well damn it...
I was gonna go into Japanese Studies...thanks alot BobR
Random on 02/04/2009 14:12:49
Quote by BobR:
This is awful. It makes me wonder what kind of healthcare system they have in Japan...
Well damn it...
I was gonna go into Japanese Studies...thanks alot BobR
Comment by BobR on 02/04/2009 14:24:29
BobR on 02/04/2009 14:24:29
off to the dentist for my biennial cleaning. TTFN...
Comment by 
Scoopster on 02/04/2009 14:27:42
Scoopster on 02/04/2009 14:27:42
Mornin' guys.. :coffee2:
I heard a short blurb on NPR this morning on the whole protectionist measures that might be added to the bill.. that had me a bit concerned.
But yeah, then there's the whole argument about Smoot-Hawley and not wanting to repeat mistakes.
Anyways, on to more light-hearted matters. It seems a local radio producer made a mashup video of the Bill-O and Christian Bale explosions. Warning - the audio is NWS!
I heard a short blurb on NPR this morning on the whole protectionist measures that might be added to the bill.. that had me a bit concerned.
But yeah, then there's the whole argument about Smoot-Hawley and not wanting to repeat mistakes.
Anyways, on to more light-hearted matters. It seems a local radio producer made a mashup video of the Bill-O and Christian Bale explosions. Warning - the audio is NWS!
Comment by 
Raine on 02/04/2009 14:44:44
Raine on 02/04/2009 14:44:44
Good Morning!!!!
Comment by wickedpam on 02/04/2009 14:46:39
wickedpam on 02/04/2009 14:46:39
wow that was a cheery enterance :p
Comment by Random on 02/04/2009 14:50:55
To be fair, that's exactly how the other countries are being described too. or at least the way i see it.
Random on 02/04/2009 14:50:55
Quote by wickedpam:
Morning :hug:
I don't get it, why is it every other country in the world can focus on buying products made in their own country to help their economy but when we do it's selfish and protectionist..... *sigh* (sorry just a bit cranky)
To be fair, that's exactly how the other countries are being described too. or at least the way i see it.
Comment by Raine on 02/04/2009 14:53:16
Raine on 02/04/2009 14:53:16
Comment by 
starling310 on 02/04/2009 14:58:18
starling310 on 02/04/2009 14:58:18
*sigh*
Shock Doctrine is Naomi KLEIN!
Shock Doctrine is Naomi KLEIN!
Comment by Raine on 02/04/2009 14:59:49
Raine on 02/04/2009 14:59:49
So aside from Howard Dean... who do y'all think for HHS? (becuase I really don't think Howard Dean is going to be the pick)
I am thinking I would like to see Bill Bradley ... He is for Single payor and he still has a lot of contacts in congress.
I am thinking I would like to see Bill Bradley ... He is for Single payor and he still has a lot of contacts in congress.
Comment by Scoopster on 02/04/2009 15:06:17
Scoopster on 02/04/2009 15:06:17
Major shenanigans going on behind the scenes at Bank of America
There's a whole lotta whistleblower action going on in this diary, especially in Updates 2 & 3.
There's a whole lotta whistleblower action going on in this diary, especially in Updates 2 & 3.
Comment by Raine on 02/04/2009 15:10:49
I am thinking we can strike some kind of balance here.
What is wrong with putting US steeworkers... you know -- BACK TO WORK?
Raine on 02/04/2009 15:10:49
Quote by Random:Quote by wickedpam:
Morning :hug:
I don't get it, why is it every other country in the world can focus on buying products made in their own country to help their economy but when we do it's selfish and protectionist..... *sigh* (sorry just a bit cranky)
To be fair, that's exactly how the other countries are being described too. or at least the way i see it.
What is wrong with putting US steeworkers... you know -- BACK TO WORK?
Comment by wickedpam on 02/04/2009 15:11:06
wickedpam on 02/04/2009 15:11:06
Comment by wickedpam on 02/04/2009 15:12:15
I would think it would be more cost effective for us to make the steel here instead of purchase it elsewhere and pay for importing it
wickedpam on 02/04/2009 15:12:15
Quote by Raine:I am thinking we can strike some kind of balance here.Quote by Random:Quote by wickedpam:
Morning :hug:
I don't get it, why is it every other country in the world can focus on buying products made in their own country to help their economy but when we do it's selfish and protectionist..... *sigh* (sorry just a bit cranky)
To be fair, that's exactly how the other countries are being described too. or at least the way i see it.
What is wrong with putting US steeworkers... you know -- BACK TO WORK?
I would think it would be more cost effective for us to make the steel here instead of purchase it elsewhere and pay for importing it
Comment by Raine on 02/04/2009 15:22:31
Raine on 02/04/2009 15:22:31
*sigh*
My feeling of dislike for the republicans is growing deeper and deeper.
My feeling of dislike for the republicans is growing deeper and deeper.
Comment by 
livingonli on 02/04/2009 15:28:37
livingonli on 02/04/2009 15:28:37
Good morning everyone. 
Great blog there, BobR. And the fact that Obama is siding with the GOP on this one is why I am sometimes worry that what Obama might do is stay to the center and do things that will not help the economy in order to court GOP support.
Great blog there, BobR. And the fact that Obama is siding with the GOP on this one is why I am sometimes worry that what Obama might do is stay to the center and do things that will not help the economy in order to court GOP support.
Comment by livingonli on 02/04/2009 15:29:00
livingonli on 02/04/2009 15:29:00
Shelagh. 
Comment by Raine on 02/04/2009 15:30:07
Raine on 02/04/2009 15:30:07
Sorry... I still do not think Areal Killing is appropriate.
You want to hunt? Th
You want to hunt? Th
Comment by Raine on 02/04/2009 15:30:30
Raine on 02/04/2009 15:30:30
Sorry... I still do not think Areal Killing is appropriate.
Comment by livingonli on 02/04/2009 15:34:01
If you can't live on that, you're a greedy bastard. Maybe you should try living on my salary.
livingonli on 02/04/2009 15:34:01
Quote by wickedpam:Quote by Raine:
A $500,000 Salary Cap for CEO's? I like it!
seems fair to me
If you can't live on that, you're a greedy bastard. Maybe you should try living on my salary.
Comment by Raine on 02/04/2009 15:34:39
Raine on 02/04/2009 15:34:39
Thank You Falettinme Be Mice Elf Agin ... 
:prince:
:prince:
Comment by livingonli on 02/04/2009 15:34:44
I'm with you on that.
livingonli on 02/04/2009 15:34:44
Quote by Raine:
*sigh*
My feeling of dislike for the republicans is growing deeper and deeper.
I'm with you on that.
Comment by wickedpam on 02/04/2009 15:40:23
wickedpam on 02/04/2009 15:40:23
Comment by wickedpam on 02/04/2009 15:42:11
wickedpam on 02/04/2009 15:42:11
love me some Dexter - too bad I can only see it on the DVD's
Comment by Scoopster on 02/04/2009 15:54:20
Darlin', I don't blame you.. Look what I found today.
Scoopster on 02/04/2009 15:54:20
Quote by Raine:
*sigh*
My feeling of dislike for the republicans is growing deeper and deeper.
Darlin', I don't blame you.. Look what I found today.
Comment by Raine on 02/04/2009 15:56:41
Raine on 02/04/2009 15:56:41
Quote by Scoopster:Quote by Raine:
*sigh*
My feeling of dislike for the republicans is growing deeper and deeper.
Darlin', I don't blame you.. Look what I found today.
Comment by livingonli on 02/04/2009 16:02:34
I think this guy is part of the Nassau GOP machine. I saw campaign ads for him near where I work back in the fall.
livingonli on 02/04/2009 16:02:34
Quote by Scoopster:Quote by Raine:
*sigh*
My feeling of dislike for the republicans is growing deeper and deeper.
Darlin', I don't blame you.. Look what I found today.
I think this guy is part of the Nassau GOP machine. I saw campaign ads for him near where I work back in the fall.
Comment by Random on 02/04/2009 16:02:40
Hey...I'm all for being selfish and protectionist...
Just sayin.
Random on 02/04/2009 16:02:40
Quote by wickedpam:Quote by Raine:I am thinking we can strike some kind of balance here.Quote by Random:Quote by wickedpam:
Morning :hug:
I don't get it, why is it every other country in the world can focus on buying products made in their own country to help their economy but when we do it's selfish and protectionist..... *sigh* (sorry just a bit cranky)
To be fair, that's exactly how the other countries are being described too. or at least the way i see it.
What is wrong with putting US steeworkers... you know -- BACK TO WORK?
I would think it would be more cost effective for us to make the steel here instead of purchase it elsewhere and pay for importing it
Hey...I'm all for being selfish and protectionist...
Just sayin.
Comment by Scoopster on 02/04/2009 16:16:20
Sounds like someone might be making a play for Peter King's seat when he runs for the Senate.
Scoopster on 02/04/2009 16:16:20
Quote by livingonli:Quote by Scoopster:Quote by Raine:
*sigh*
My feeling of dislike for the republicans is growing deeper and deeper.
Darlin', I don't blame you.. Look what I found today.
I think this guy is part of the Nassau GOP machine. I saw campaign ads for him near where I work back in the fall.
Sounds like someone might be making a play for Peter King's seat when he runs for the Senate.
Comment by livingonli on 02/04/2009 16:18:13
livingonli on 02/04/2009 16:18:13
I am checking out the Stephspace today. They sure did a lot of stuff today.
Comment by 
Mondobubba on 02/04/2009 16:19:40
I love, LOVE this quote:
“That is pretty draconian — $500,000 is not a lot of money, particularly if there is no bonus,” said James F. Reda, founder and managing director of James F. Reda & Associates, a compensation consulting firm. “And you know these companies that are in trouble are not going to pay much of an annual dividend.”
Hey asshat, 500k is ten time the median household income! Another fricking clueless muldoon!
Mondobubba on 02/04/2009 16:19:40
Quote by Raine:
A $500,000 Salary Cap for CEO's? I like it!
I love, LOVE this quote:
“That is pretty draconian — $500,000 is not a lot of money, particularly if there is no bonus,” said James F. Reda, founder and managing director of James F. Reda & Associates, a compensation consulting firm. “And you know these companies that are in trouble are not going to pay much of an annual dividend.”
Hey asshat, 500k is ten time the median household income! Another fricking clueless muldoon!
Comment by 
clintster on 02/04/2009 16:23:16
Bradly would be good, but I would also like the thrill of saying "Secretary Chairman Governor Doctor Dean".
clintster on 02/04/2009 16:23:16
Quote by Raine:
So aside from Howard Dean... who do y'all think for HHS? (becuase I really don't think Howard Dean is going to be the pick)
I am thinking I would like to see Bill Bradley ... He is for Single payor and he still has a lot of contacts in congress.
Bradly would be good, but I would also like the thrill of saying "Secretary Chairman Governor Doctor Dean".
Comment by Scoopster on 02/04/2009 16:24:52
Scoopster on 02/04/2009 16:24:52
MULDOON!! 
Mondo you're awesome..
Mondo you're awesome..
Comment by Mondobubba on 02/04/2009 16:33:24
Yeah, like correcting that the ML brokers in private wealth management were being fired. Even before I got to the graph about that, I knew it was wrong. A friend of mine here is finishing up his time as an IT dude for Merril; the only part of the company that made money last year was private wealth management. This is why my friend has had job he was supporting all those Blackberries and whatnot. Hell he even got one of those accelerated bonuses. His was enough to make a down payment on a new Sentra. Thain totally had his back!
Mondobubba on 02/04/2009 16:33:24
Quote by Scoopster:
Major shenanigans going on behind the scenes at Bank of America
There's a whole lotta whistleblower action going on in this diary, especially in Updates 2 & 3.
Yeah, like correcting that the ML brokers in private wealth management were being fired. Even before I got to the graph about that, I knew it was wrong. A friend of mine here is finishing up his time as an IT dude for Merril; the only part of the company that made money last year was private wealth management. This is why my friend has had job he was supporting all those Blackberries and whatnot. Hell he even got one of those accelerated bonuses. His was enough to make a down payment on a new Sentra. Thain totally had his back!
Comment by Mondobubba on 02/04/2009 16:34:22
:goes all Sally Field:
Mondobubba on 02/04/2009 16:34:22
Quote by Scoopster:
MULDOON!!
:goes all Sally Field:
Comment by 
TriSec on 02/04/2009 16:35:03
TriSec on 02/04/2009 16:35:03
NaCl
:sprint:
:sprint:
Comment by livingonli on 02/04/2009 16:36:23
I want to see these pricks now try and live on my income or better yet try living on minimum wage. Greedy, whiny asshats.
livingonli on 02/04/2009 16:36:23
Quote by Mondobubba:Quote by Raine:
A $500,000 Salary Cap for CEO's? I like it!
I love, LOVE this quote:
“That is pretty draconian — $500,000 is not a lot of money, particularly if there is no bonus,” said James F. Reda, founder and managing director of James F. Reda & Associates, a compensation consulting firm. “And you know these companies that are in trouble are not going to pay much of an annual dividend.”
Hey asshat, 500k is ten time the median household income! Another fricking clueless muldoon!
I want to see these pricks now try and live on my income or better yet try living on minimum wage. Greedy, whiny asshats.
Comment by livingonli on 02/04/2009 17:28:06
livingonli on 02/04/2009 17:28:06
Good questions, Thom. That's why we should stick it to these Rethuglicans.
Comment by starling310 on 02/04/2009 17:28:06
starling310 on 02/04/2009 17:28:06
Thom's makin' me hot again! 
Comment by Raine on 02/04/2009 17:28:15
GO ON THOM!! !!!
Raine on 02/04/2009 17:28:15
Comment by livingonli on 02/04/2009 17:30:28
livingonli on 02/04/2009 17:30:28
Maybe one of us should call in to Thom at sometime.
Comment by Mondobubba on 02/04/2009 17:34:24
You're just figuring that out now, or are you stating know facts? Or both.
Mondobubba on 02/04/2009 17:34:24
Quote by Scoopster:
Senator Coburn is a sneaky fucking scumbag..
You're just figuring that out now, or are you stating know facts? Or both.
Comment by BobR on 02/04/2009 17:46:53
BobR on 02/04/2009 17:46:53