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16 Critical Economic Issues That Obama And Romney Avoided During The Debate

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Exodus 20:5  Thou shalt not bow down thyself to them, nor serve them: for I the LORD thy God am a jealous God, visiting the iniquity of the fathers upon the children unto the third and fourth generation of them that hate me;
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Author Topic: 16 Critical Economic Issues That Obama And Romney Avoided During The Debate  (Read 161 times)
Mark
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« on: October 05, 2012, 05:35:12 am »

16 Critical Economic Issues That Obama And Romney Avoided During The Debate

shhhh...

Did you watch the presidential debate on Wednesday night?  It is absolutely amazing how they can have an hour and a half debate about the economy and say so little.  It seemed like both candidates were falling all over each other wanting to talk about how much they value education, but will more education really solve our problems?  After all, 53 percent of all Americans with a bachelor's degree under the age of 25 were either unemployed or underemployed in 2011.  So perhaps they should just both agree that education is a good thing and start talking about how to create more jobs for all of us.  If you want to grade the debate from a technical standpoint, clearly Romney was the winner of the debate.  Romney was full of energy and was generally sharp with his answers.  Obama looked like he had just popped a couple of antidepressants and was ready for nap time.  As a result, this might have been the worst blowout in the history of presidential debates.  A CNN/ORC International poll that was taken right after the debate found that 67 percent of all Americans that had watched the debate thought that Romney was the winner.  Never before had any presidential candidate crossed the 60 percent mark in the history of their post-debate polling.  So Romney definitely had a big night.  But the reality is that both candidates were telling the American people what they want to hear.  If either Obama or Romney told the truth about what we are facing they would lose votes, and in a race this tight both of them really want to avoid doing that.  Obama and Romney both desperately want to win this election, and the words that are coming out of their mouths have been carefully crafted to appeal to the "undecided voters" in the swing states.  If you actually believe that they can deliver on everything that they are promising, then you must not have been paying much attention to U.S. politics over the past several decades.

Perhaps the biggest failure on Wednesday night was debate moderator Jim Lehrer of PBS.  His questions were about as far from "hard hitting" as you could get.

The hour and a half debate was almost entirely about the economy, and yet almost all of the critical economic issues were ignored.

Yes, Obama and Romney have slight differences when it comes to tax rates and regulations, but those small differences are not going to do much to change the direction of this country one way or another.

Meanwhile, there were some really huge issues about the economy that were not addressed at all last night....

1 - In an hour and a half debate about the economy, the Federal Reserve was not mentioned a single time.

2 - In an hour and a half debate about the economy, Ben Bernanke was not mentioned a single time.

3 - In an hour and a half debate about the economy, quantitative easing was not mentioned a single time.

4 - In an hour and a half debate about the economy, the term "derivatives" was not used a single time.  Considering the fact that derivatives could bring down our financial system at any moment, this is an issue that should be talked about.

5 - In an hour and a half debate about the economy, there was no mention of the millions of jobs that have been shipped out of the country.  Considering the fact that both Obama and Romney have played a role in this, it is probably a topic they both want to avoid.  Overall, the United States has lost more than 56,000 manufacturing facilities since 2001.

6 - In an hour and a half debate about the economy, neither candidate mentioned that the velocity of money has plunged to a post-World War II low.

7 - In an hour and a half debate about the economy, the fact that the rest of the world is beginning to reject the U.S. dollar as a reserve currency was not mentioned a single time, but this has enormous implications for our economy in the years ahead.

8 - The fact that the Social Security system is headed for massive trouble was only briefly touched on during the debate.  At the moment, there are approximately 56 million Americans that are collecting Social Security benefits.  By 2035, that number is projected to grow to an astounding 91 million.  Overall, the Social Security system is facing a 134 trillion dollar shortfall over the next 75 years.  When are our politicians going to honestly address this massive problem?

9 - In an hour and a half debate about the economy, the nightmarish drought the country is experiencing right now was not mentioned a single time.

10 - In an hour and a half debate about the economy, the financial meltdown in Europe was basically totally ignored.  But considering the fact that Europe has a larger economy and a much larger banking system than we do, perhaps someone should have asked Obama and Romney what they plan to do when the financial system of Europe implodes.

11 - In an hour and a half debate about the economy, the student loan debt bubble was only briefly mentioned.

12 - In an hour and a half debate about the economy, there was not a single word about the fact that the gap between the wealthy and the poor is now larger than it has been at any point since the Great Depression.

13 - In an hour and a half debate about the economy, there was no mention of TARP (which they both supported at the time).  Would they both bail out the big banks if another financial crisis erupted?

14 - In an hour and a half debate about the economy, there was no mention of the economic stimulus packages (which they both supported at the time).  Would they both want more "economic stimulus" if we entered another recession?

15 - In an hour and a half debate about the economy, neither candidate talked about the fact that most of the jobs our economy is producing now are low income jobs.  In fact, since the end of the last recession, 58 percent of the jobs that have been created are low paying jobs.

16 - In an hour and a half debate about the economy, neither candidate mentioned that more than 100 million Americans are enrolled in at least one welfare program run by the federal government or that more than half of all Americans are now at least partially financially dependent on the government.  I can't blame Romney for avoiding this point though - he probably wanted to avoid the phrase "47 percent" at all costs.

Is this really the best that America can do?

Tens of millions of Americans tuned in hoping to become more informed about the candidates, and instead what they got was an hour and a half of tap dancing as Obama and Romney constantly tossed out buzzwords such as "education", "energy independent" and "middle class".

I honestly don't know how you can possibly have a debate about the economy without talking about the Federal Reserve, quantitative easing, the trade deficit, Europe or the decline of the U.S. dollar.

But it just happened right in front of our eyes.

I don't think that I can ever remember another presidential debate that lacked substance as much as this one did.

So what did you all think about the debate?  Please feel free to post a comment with your thoughts below....

http://theeconomiccollapseblog.com/archives/16-critical-economic-issues-that-obama-and-romney-avoided-during-the-debate
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« Reply #1 on: October 05, 2012, 08:52:20 am »

I only watched a few minutes of it - yeah, it was at that point where with the topic they were debating, the Federal Reserve/Bernanke were NOT brought up. Instead, it just looked like a couple of guys talking gibberish after a hard day's work.

And this also shows that these debates are SCRIPTED, no more, no less. Remember 1984 when Walter Mondale walked all over Reagan and leaving him speechless, until Reagan somehow at the very last minute in the 3rd debate came out and showed everyone the good 'old Reagan everyone grew up to love? NOTHING of substance was even mentioned in those debates as it came off as nothing more than a high school debate exhibit.
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« Reply #2 on: October 22, 2012, 05:37:45 am »

55 Facts About The Debt And U.S. Government Finances That Every American Voter Should Know

The future of the United States of America is being systematically destroyed by our politicians, but unfortunately most Americans don't really grasp exactly what is happening.  30 years ago, our national debt had just crossed the one trillion dollar mark.  Just recently, it crossed the 16 trillion dollar mark.  Prior to every election, politicians from both parties swear up and down that they will do something about our exploding debt, but it never happens.  Once again this year, our politicians are making all kinds of grand promises about getting U.S. government finances under control.  But they are also promising all kinds of new plans and programs which are going to cost a lot more money on top of what we are already spending.  For the average American, all of this can be incredibly confusing.  That is why I have put together a list of facts about the debt and U.S. government finances below.  These are things that every voter should know.  The federal government is stealing more than a trillion dollars a year from our children and our grandchildren, and they are spending that money in some of the most foolish ways that you could ever imagine.  We have accumulated the largest mountain of debt in the history of the world, but our politicians just can't help themselves - they appear to be absolutely addicted to spending money.  If we continue on the path that we are currently on, our entire financial system and our entire economy will be destroyed by all of this debt.  Time is running out and urgent action is needed to address this crisis.

Many of our founding fathers attempted to warn us about the dangers of government debt.  For example, Thomas Jefferson once said the following...

I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing.
Where would we be today if such an amendment had been added to our Constitution?

How much brighter would our future be if the federal government had been forced to only spend what it took in all these years?

Those are very good questions.

The following are 55 facts about the debt and U.S. government finances that every American voter should know....

#1 While Barack Obama has been president, the U.S. government has spent about 11 dollars for every 7 dollars of revenue that it has actually brought in.

#2 During the fiscal year that just ended, the U.S. government took in 2.449 trillion dollars but it spent 3.538 trillion dollars.

#3 During fiscal year 2011, over a trillion dollars of government money was spent on 83 different welfare programs, and those numbers do not even include Social Security or Medicare.

#4 Over the past four years, welfare spending has increased by 32 percent.  In inflation-adjusted dollars, spending on those programs has risen by 378 percent over the past 30 years.  At this point, more than 100 million Americans are enrolled in at least one welfare program run by the federal government.  Once again, these figures do not even include Social Security or Medicare.

#5 Over the past year, the number of Americans getting a free cell phone from the federal government has grown by 43 percent.  Now more than 16 million Americans are enjoying what has come to be known as an "Obamaphone".

#6 When Barack Obama first entered the White House, about 32 million Americans were on food stamps.  Now, nearly 47 million Americans are on food stamps.  And this has happened during what Obama refers to as "an economic recovery".

#7 The U.S. government recently spent 27 million dollars on pottery classes in Morocco.

#8 The U.S. Department of Agriculture recently spent $300,000 to encourage Americans to eat caviar at a time when more families than ever are having a really hard time just trying to put any food on the table at all.

#9 During 2012, the National Science Foundation spent $516,000 to support the creation of a video game called "Prom Week", which apparently simulates "all the social interactions of the event."

#10 The U.S. Department of Agriculture gave the largest snack food maker in the world (PepsiCo Inc.) a total of 1.3 million dollars in corporate welfare that was used to help build "a Greek yogurt factory in New York."

#11 The National Science Foundation recently gave researchers at Purdue University $350,000.  They used part of that money to help fund a study that discovered that if golfers imagine that a hole is bigger it will help them with their putting.

#12 If you can believe it, $10,000 from the federal government was actually used to purchase talking urinal cakes up in Michigan.

#13 The National Science Foundation recently gave a whopping $697,177 to a New York City-based theater company to produce a musical about climate change.

#14 The National Institutes of Health recently gave $666,905 to a group of researchers that is studying the benefits of watching reruns on television.

#15 The National Science Foundation has given 1.2 million dollars to a team of "scientists" that is spending part of that money on a study that is seeking to determine whether elderly Americans would benefit from playing World of Warcraft or not.

#16 The National Institutes of Health recently gave $548,731 to a team of researchers that concluded that those that drink heavily in their thirties also tend to feel more immature.

#17 The National Science Foundation recently spent $30,000 on a study to determine if "gaydar" actually exists.  This is the conclusion that the researchers reached at the end of the study....

"Gaydar is indeed real and… its accuracy is driven by sensitivity to individual facial features"
#18 Back in 2011, the National Institutes of Health spent $592,527 on a study that sought to figure out once and for all why chimpanzees throw poop.

#19 The U.S. government spends more on the military than China, Russia, Japan, India, and the rest of NATO combined.  In fact, the United States accounts for 41.0% of all military spending on the planet.  China is next with only 8.2%.

#20 In a previous article, I noted that close to 500,000 federal employees now make at least $100,000 a year.

#21 In 2006, only 12 percent of all federal workers made $100,000 or more per year.  Now, approximately 22 percent of all federal workers do.

#22 If you can believe it, there are 77,000 federal workers that make more than the governors of their own states do.

#23 During 2010, the average federal employee in the Washington D.C. area received total compensation worth more than $126,000.

#24 The U.S. Department of Defense had just nine civilians earning $170,000 or more back in 2005.  When Barack Obama became president, the U.S. Department of Defense had 214 civilians earning $170,000 or more.  By June 2010, the U.S. Department of Defense had 994 civilians earning $170,000 or more.

#25 During 2010, compensation for federal employees came to a grand total of approximately 447 billion dollars.

#26 If you can believe it, close to 15,000 retired federal employees are currently collecting federal pensions for life worth at least $100,000 annually.  That list includes such names as Newt Gingrich, Bob Dole, Trent Lott, Dick Gephardt and Dick Cheney.

#27 During 2010, the federal government spent $33,387 on the hair care needs of U.S. Senators.

#28 During 2010, U.S. Senators pulled $72,370 out of the "Senate Restaurant Fund".

#29 During 2010, an average of $4,005,900 of U.S. taxpayer money was spent on "personal" and "office" expenses per Senator.

#30 In 2013, 3.7 million dollars will be spent to support the lavish lifestyles of former presidents such as George W. Bush and Bill Clinton.

#31 During 2011, the federal government spent a total of 1.4 BILLION dollars just on the Obamas.

#32 When you combine all federal government spending, all state government spending and all local government spending, it comes to approximately 41 percent of U.S. GDP.  But don't worry, all of our politicians insist that this is not socialism.

#33 As I have written about previously, less than 30 percent of all Americans lived in a home where at least one person received financial assistance from the federal government back in 1983.  Today, that number is sitting at an all-time high of 49 percent.

#34 Back in 1990, the federal government accounted for just 32 percent of all health care spending in America.  This year, it is being projected that the federal government will account for more than 50 percent of all health care spending in the United States.

#35 The number of Americans on Medicaid soared from 34 million in 2000 to 54 million in 2011, and it is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.

#36 In one of my previous articles, I discussed how it is being projected that the number of Americans on Medicare will grow from 50.7 million in 2012 to 73.2 million in 2025.

#37 If you can believe it, Medicare is facing unfunded liabilities of more than 38 trillion dollars over the next 75 years.  That comes to approximately $328,404 for each and every household in the United States.

#38 In the United States today, more than 61 million Americans receive some form of Social Security benefits.  By 2035, that number is projected to soar to a whopping 91 million.

#39 Overall, the Social Security system is facing a 134 trillion dollar shortfall over the next 75 years.

#40 When Barack Obama first took office, the U.S. national debt was about 10.6 trillion dollars.  Now it is about 16.2 trillion dollars.  That is an increase of 5.6 trillion dollars in less than 4 years.

#41 The federal government has now run a budget deficit of more than a trillion dollars for four years in a row.

#42 If right this moment you went out and started spending one dollar every single second, it would take you more than 31,000 years to spend one trillion dollars.

#43 If you were alive when Jesus Christ was born and you spent one million dollars every single day since that point, you still would not have spent one trillion dollars by now.

#44 Some suggest that "taxing the rich" is the answer.  Well, if Bill Gates gave every single penny of his entire fortune to the U.S. government, it would only cover the U.S. budget deficit for 15 days.

#45 If the federal government used GAAP accounting standards like publicly traded corporations do, the real federal budget deficit for 2011 would have been 5 trillion dollars instead of 1.3 trillion dollars.

#46 The United States already has more government debt per capita than Greece, Portugal, Italy, Ireland or Spain does.

#47 At this point, the United States government is responsible for more than a third of all the government debt in the entire world.

#48 The amount of U.S. government debt held by foreigners is about 5 times larger than it was just a decade ago.

#49 Between 2007 and 2010, U.S. GDP grew by only 4.26%, but the U.S. national debt soared by 61% during that same time period.

#50 The U.S. national debt is now more than 37 times larger than it was when Richard Nixon took us off the gold standard.

#51 The U.S. national debt is now more than 5000 times larger than it was when the Federal Reserve was first created.

#52 The U.S. national debt jumped more on the very first day of fiscal year 2013 than it did from 1776 to 1941 combined.

#53 Historically, the interest rate on 10 year U.S. Treasuries has averaged 6.68 percent.  If the average interest rate on U.S. government debt rose to that level today, the U.S. government would find itself spending more than a trillion dollars per year just on interest on the national debt.

#54 A recently revised IMF policy paper entitled “An Analysis of U.S. Fiscal and Generational Imbalances: Who Will Pay and How?” projects that U.S. government debt will rise to about 400 percent of GDP by the year 2050.

#55 Boston University economist Laurence Kotlikoff is warning that the U.S. government is facing a gigantic tsunami of unfunded liabilities in the coming years that we are counting on our children and our grandchildren to pay.  Kotlikoff speaks of a "fiscal gap" which he defines as "the present value difference between projected future spending and revenue".  His calculations have led him to the conclusion that the federal government is facing a fiscal gap of 222 trillion dollars in the years ahead.

Please share this article with as many people as you can.  Time is running out to fix these problems.

http://theeconomiccollapseblog.com/archives/55-facts-about-the-debt-and-u-s-government-finances-that-every-american-voter-should-know
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« Reply #3 on: October 22, 2012, 05:39:57 am »

Obama And Romney Both Favor A One World Economic System That Kills American Jobs

Either way this election turns out, American jobs are going to continue to get slaughtered by the millions.  During this campaign, Mitt Romney and Barack Obama have both attempted to portray each other as the "outsourcer in chief".  Unfortunately, they are both right.  Barack Obama and Mitt Romney have both participated in the outsourcing of American jobs, and both are openly admitting to the American people that they favor the emerging one world economic system which will continue to destroy millions of American jobs.  In fact, they argue with each other about which of them will be more aggressive in pursuing more "free trade" agreements over the next four years.  Unfortunately, the "free trade" agreements that the U.S. government enters into are never "fair trade" agreements.  As a result, over the past decade we have lost tens of thousands of businesses, millions of jobs and trillions of dollars of national wealth.  This year alone, we will buy about half a trillion dollars more stuff from the rest of the world than they will buy from us.  This trade deficit will be about 7 times larger than the trade deficit of any other nation on earth.  Our economy will continue to bleed jobs at a horrifying pace, but Obama and Romney insist that the answer to our problems is even more "free trade".  What makes all of this even more dreadful is that most Americans continue to fall for this nonsense.

It doesn't take a genius to figure out that merging our labor pool with the labor pools of nations where it is legal to pay slave labor wages was going to kill American jobs and drive down wages for the jobs that remain in the United States.

Why should some giant predator corporation pay you 15 dollars an hour plus benefits when they can pay a worker on the other side of the planet a dollar an hour with no benefits to do the same job?

During the second presidential debate, when Obama was asked why high tech products such as the iPhone could not be made here in the United States, Obama openly admitted that there are some jobs that aren't ever going to come back.

But why does that have to be so?

Why can't those jobs come back to America?

It seems to me that if you cracked down on nations that are cheating such as China, imposed a system of common sense tariffs and cut the corporate tax rate to a level more consistent with the rest of the world that you could get a lot of those jobs flooding back in by the end of next year.

But Obama is so blinded by his faith in the emerging one world economy that such measures are unimaginable to him.

In recent years, the Obama administration has entered into new "free trade" agreements with Panama, South Korea and Colombia.  In addition, the Obama administration is making the Trans-Pacific Partnership ("the NAFTA of the Pacific") a very high priority.

Considering what a nightmare the first NAFTA was, do we really need another one?

The Trans-Pacific Partnership is a treaty that would essentially ban all "Buy American" laws.  It is being touted as one of the most comprehensive "free trade" agreements in history, and it would open up the door for millions more good jobs to be shipped out of the country.

The workers of America simply cannot afford another four years of Barack Obama.

In fact, the Obama administration has actually spent billions of taxpayer dollars to create jobs in other countries.  The following is from a pro-Republican website...

Over his four years in office, Obama promised that he would focus on creating "jobs that pay well and can't be outsourced." However, as he racked up trillions in new debt, billions of dollars did go to create jobs that were outsourced or spent overseas. Whether it is electric cars made in Finland or solar panels in Mexico, taxpayers would be astonished to learn that their hard earned money went abroad for jobs that weren't created in the United States.
You can get all the details right here.  Needless to say, the Obama administration has been an absolute disaster on these issues.

So would Romney be an improvement when it comes to trade?

That is very doubtful.

The truth is that Mitt Romney was involved in outsourcing jobs while he was at Bain Capital.  The following is from a recent article posted on Forbes.com...

David Corn of Mother Jones reports that “according to government documents . . . Romney, when he was in charge of Bain [Capital], invested heavily in a Chinese manufacturing company that depended on US outsourcing for its profits—and that explicitly stated that such outsourcing was crucial to its success.”

This didn’t happen after 1999, when Mitt Romney says he left Bain Capital to run the Salt Lake City Olympics (Corn was one of the first reporters to raise questions, now gaining wide exposure, of whether Romney really left Bain then), but the year before. On April 17, 1998, Brookside Capital Partners Fund, a Bain Capital affiliate of which Romney was the sole shareholder, sole director, president, and chief executive, invested an estimated $14.2 million in Global-Tech, an appliance maker in Dongguan, China. Global-Tech made products for American companies like Sunbeam, Hamilton Beach, Mr. Coffee, and Proctor-Silex. In September 1998 Global-Tech’s CEO announced that the company was postponing a factory expansion because Sunbeam was slowing its rate of outsourcing, and said, “Although it appears that customers such as Sunbeam are not outsourcing their manufacturing as quickly as we had anticipated, we still believe that the long-term trend toward outsourcing will continue.”
Since Romney left, Bain Capital has become even more aggressive with outsourcing jobs.  In fact, Bain Capital has been forcing American workers to train their Chinese replacements even in the midst of this campaign.  Aren't they concerned that they are making their former boss look bad?  The following is from an article written by an American worker that is having his job shipped to China by Bain Capital...

On Monday, November 5th Bain Capital is outsourcing my job to China. On Tuesday, November 6th I'm casting my vote against Mitt Romney.

Yes, I blame Mitt Romney for the loss of my job. Here's why.

I've worked at the same factory in Freeport, Ill. for thirty-three years, making sensors and controls for the auto industry. It's tough work, but it pays a living wage with health benefits that folks can count on, and it fuels our town's economy and tax base.

That's been changing since Bain Capital came to town. Two years ago, our factory was sold to Sensata Technologies, a company created by Bain Capital, and they told us that by December 2012, all 170 of our jobs would be shipped to China. They even made us train our Chinese replacements.

Layoff notices have been sent out, and some folks have already been laid off. Where there was once lots of people and energy and life, now there's only the discoloration on the floor where the machinery used to be. It's depressing. They're not just dismantling the equipment and the plant; they're dismantling our community.
All of this outsourcing is killing America.

Back in 1950, the population of this country was less than half of what it is now, and yet there were more Americans working in manufacturing back in 1950 than there are today.

The decline in manufacturing jobs in the United States has been really dramatic since the year 2000.

In 2000, there were more than 17 million Americans working in manufacturing, but now there are less than 12 million...



I think that it is interesting to note that China joined the WTO in 2001.  Since that time we have been losing jobs to them at an astounding pace.  According to a new report by the Economic Policy Institute, U.S. trade with China "cost more than 2.7 million jobs between 2001 and 2011".

The Chinese slap huge tariffs on many of our goods, they manipulate currency rates to make sure that U.S. companies cannot compete, they steal our intellectual property and they deeply subsidize their own businesses.

And yet Obama and Romney insist that this is "free trade".

What a joke.

And our tax structure is absolutely killing us as well.  The following is from a recent article by Ernest F. Hollings...

A U.S. manufacturer exporting to China pays the 35% Corporate Tax and a 17% VAT when its exports reach Shanghai.  A China manufacturer exports tax free to the U.S.
Are you starting to get the picture?

Our trade policy is a complete and total disaster, and yet Obama and Romney continue to insist that we just need to become even more integrated with the emerging one world economic system.

Well, in a previous article I listed 22 statistics which prove that the current path that we are on has been absolutely disastrous for American workers...

#1 One professor has estimated that cutting the U.S. trade deficit in half would create 5 million more jobs in the United States.

#2 The United States has a trade imbalance that is more than 7 times larger than any other nation on earth has.

#3 Overall, the United States has run a trade deficit of more than 8 trillion dollars with the rest of the globe since 1975.  That 8 trillion dollars could have gone to support U.S. businesses and pay the wages of U.S. workers.  Federal, state and local taxes would have been paid on that 8 trillion dollars if it had stayed in the United States.

#4 When NAFTA was passed in 1993, the United States had a trade surplus with Mexico of 1.6 billion dollars.  In 2010, we had a trade deficit with Mexico of 61.6 billion dollars.

#5 In 2001, American consumers spent 102 billion dollars on products made in China.  In 2011, American consumers spent 399 billion dollars on products made in China.

#6 The Chinese undervalue their currency by about 40 percent in order to gain a critical advantage over foreign competitors.  This means that many Chinese companies are able to absolutely thrive while their competition in the United States goes out of business.  The following is from a recent Fox News article....

To keep Chinese products artificially inexpensive on US store shelves, Beijing undervalues the yuan by 40 percent. It pirates US technology, subsidizes exports and imposes high tariffs on imports.
#7 According to the New York Times, a Jeep Grand Cherokee that costs $27,490 in the United States costs about $85,000 in China thanks to all the tariffs.

#8 The U.S. trade deficit with China during 2011 was 295.4 billion dollars.  That was the largest trade deficit that one nation has had with another nation in the history of the world.

#9 Back in 1985, our trade deficit with China was only about 6 million dollars (million with an "m") for the entire year.

#10 U.S. consumers spend about 4 dollars on goods and services from China for every one dollar that Chinese consumers spend on goods and services from the United States.

#11 The United States has actually lost an average of about 50,000 manufacturing jobs a month since China joined the World Trade Organization in 2001.

#12 According to the Economic Policy Institute, America is losing about half a million jobs to China every single year.

#13 The United States has lost more than 56,000 manufacturing facilities since 2001.

#14 During 2010 alone, an average of 23 manufacturing facilities closed their doors in America every single day.

#15 Since the auto industry bailout, approximately 70 percent of all GM vehicles have been built outside the United States.

#16 As I have written about previously, 95 percent of the jobs lost during the last recession were middle class jobs.

#17 According to Professor Alan Blinder of Princeton University, 40 million more U.S. jobs could be sent offshore over the next two decades if current trends continue.

#18 The percentage of working age Americans that are employed right now is actually smaller than it was at the end of the last recession.

#19 The average duration of unemployment in the United States is nearly three times as long as it was back in the year 2000.

#20 Due in part to the globalization of the labor pool, only about 24 percent of all jobs in the United States are "good jobs" at this point.

#21 Without enough good jobs, more Americans than ever before are falling into poverty.  Today, more than 100 million Americans are on welfare.

#22 In recent years the U.S. economy has embraced "free trade" and the emerging one world economy like never before.  Instead of increasing the number of jobs in our economy, it has resulted in the worst stretch of job creation in the United States in modern history....

If any single number captures the state of the American economy over the last decade, it is zero. That was the net gain in jobs between 1999 and 2009—nada, nil, zip. By painful contrast, from the 1940s through the 1990s, recessions came and went, but no decade ended without at least a 20 percent increase in the number of jobs.
At this point, more than 41 percent of all working age Americans do not have a job, and the vast majority of the new jobs that are being created are low paying jobs.

Median household income has fallen for four years in a row.  In fact, median household income is down by more than $4000 since Barack Obama entered the White House.

One recent survey found that about 40 percent of all Americans have $500 or less in savings.  We are a country that is full of broke people.

What we need are more good jobs.  But Obama and Romney are both determined to keep shipping good jobs out of the country.

The path that we are on will only lead to disaster.  Please wake up America.


"meet the new boss, same as the old boss"

http://theeconomiccollapseblog.com/archives/obama-and-romney-both-favor-a-one-world-economic-system-that-kills-american-jobs
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Kilika
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« Reply #4 on: October 22, 2012, 06:01:40 am »

No question China is fudging the numbers. But they aren't alone. They all do it depending on the current situation.

In fact, China I think would need to do that to keep their costs down on wages, etc because other countries are paying higher and have higher standards, and the NWO wants a uniform compliance world-wide, so China and others will need to step it up and meet the others in the middle, financially speaking, so they get an overall level playing field worldwide. For now, China gets away with it I'd say because they got cash and the NWO still needs stuff made to sell and make money. They still insist on their creature comforts.
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