What Obama Hath Wrought
Ugh. And yes, the wording of the title is deliberate; look at the story Mankiw links to and you will see that the protectionist measures being proposed by (surprise!) Canadian labor unions are modeled explicitly on the “Buy American” provisions in the stimulus bill. Heck, the labor unions in Canada even say that they have no problem with the Buy American provisions–I suppose that sentiment | Read More »
The new version of the “Buy American” provision – a howler!
OK so the Dems have reached a compromise it seems. Congressional leaders, trying to quell a dispute over “Buy American” provisions in the stimulus package, are crafting a version that would apply only when they don’t violate trade rules, according to industry officials and a congressional aide. So the gist of it is that the Dems will insist that we “Buy American” … as long | Read More »
“Buy American”: Obama Walks a Knife-Edge On Trade
Obama has been walking back his rhetoric on trade protectionism. Specifically, the “Buy American” clause in the fiscal stimulus bill now under debate in the Senate. Think about it. We’re getting ready to borrow trillions of dollars that our children will need to repay some day. We’re going to give it to the governors of the fifty states, to spend on teacher salaries, Medicare and | Read More »
Recipe For A Depression
While we are still struggling to get out of the most severe recession in nearly a quarter of a century, the Obama Administration is determined to make matters worse: The prospect of a trade war between the US and Europe is looming after “Buy American” provisions were added to President Barack Obama’s $820 billion (£573 billion) stimulus package. The EU trade commissioner vowed to fight | Read More »