Restore U.S. manufacturing strength - the Arsenal of Democracy
by U.S. Rep. Duncan Hunter: As U.S. forces fought their way to victory during World War II, America demonstrated unprecedented manufacturing power at home. Our manufacturers quickly became one of our nation's greatest assets and represented what became known as the "Arsenal of Democracy." Today, the Arsenal of Democracy is no longer what it once was. In fact, while serving as chairman of the House Armed Services Committee, I sent my team to locate more steel to protect our troops in Iraq against roadside bombs. They found one company left in the United States that could still make high-grade, armor plate steel.
The enticements and effects of a global, free market economy have exported the Arsenal of Democracy to countries around the world. U.S. corporations that once offered high-quality, high-paying jobs have either shifted their production overseas or closed their doors altogether due to the fact that they are incapable of maintaining their competitive edge. Primarily to blame are international trade agreements promoted by successive U.S. administrations. . . . In accepting these trade deals, we have acquiesced to one-way policies that benefit our trading partners rather than our own manufacturers. For nearly two decades, we have been buying more from the rest of the world than we have been selling. And we continue making up the difference by borrowing from other countries, including China. . . . To remain competitive, we must eliminate this disparity and level the playing field for our manufacturers. . . . Read More
[Rep. Hunter (R-CA) and Tim Ryan (R-OH) have introduced the The Fair Currency Act legislation which defines currency manipulation as an illegal export subsidy and allows American manufacturers to seek relief against goods entering the U.S. from countries that devalue their currency.]
Tags: Arsenal of Democracy, Duncan Hunter, Fair Currency Act, steel industry, US House, US manufacturing To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
The enticements and effects of a global, free market economy have exported the Arsenal of Democracy to countries around the world. U.S. corporations that once offered high-quality, high-paying jobs have either shifted their production overseas or closed their doors altogether due to the fact that they are incapable of maintaining their competitive edge. Primarily to blame are international trade agreements promoted by successive U.S. administrations. . . . In accepting these trade deals, we have acquiesced to one-way policies that benefit our trading partners rather than our own manufacturers. For nearly two decades, we have been buying more from the rest of the world than we have been selling. And we continue making up the difference by borrowing from other countries, including China. . . . To remain competitive, we must eliminate this disparity and level the playing field for our manufacturers. . . . Read More
[Rep. Hunter (R-CA) and Tim Ryan (R-OH) have introduced the The Fair Currency Act legislation which defines currency manipulation as an illegal export subsidy and allows American manufacturers to seek relief against goods entering the U.S. from countries that devalue their currency.]
Tags: Arsenal of Democracy, Duncan Hunter, Fair Currency Act, steel industry, US House, US manufacturing To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
Posted by Bill Smith at 2:59 PM - Post Link
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