Stop the Madness! People Should be SHOCKED

Ernest F. Hollings:

Our only hope is for President Obama to enforce our trade laws to protect the economy and make it profitable for Corporate America to produce in the United States in the trade war.

People are shocked to learn:

1. That almost a year before the recession, in February 2007, the Princeton economist, Alan Blinder, estimated that in ten years we would be losing 30 to 40 million jobs to offshoring. That’s about 300,000 jobs a month lost to offshoring.

2. President Obama has stimulated to save or create jobs lost from the recession, but totally ignores the 300,000 jobs lost to offshoring.

3. President Bush and the Federal Reserve stimulated the economy $7.5 trillion during his eight year term, and household debt during the same time stimulated the economy another $7 trillion for a total of a $14.5 trillion stimulation. President Obama stimulated the economy his first year over $1 trillion, and we have already stimulated the economy this year $1.142 trillion (6/9/10) with four months to go. So we have borrowed and stimulated the economy over the past nine and a half years $16.6 trillion, and the private sector is only creating 41,000 new jobs a month.

Full Story: Stop the Madness! People Should be SHOCKED | Economy In Crisis.