'In the end it's not the years in your life that count. It's the life in your years.'
- Abraham Lincoln -

Wednesday, February 15, 2012

Economics 101

He should know this by now.  But, alas:
White House's manufacturing math may not create jobs
By Josh Boak, Politico

President Barack Obama is promising new factory jobs that he can’t really deliver — even the companies on his own jobs council have shrunk their workforce. The president has repeatedly made the standard election-year pitch: He’ll foster “an economy built on the American manufacturing, with more good jobs and more products made in America,” as he said last month while standing outside a new Intel computer chip plant in Arizona. To help, Obama has proposed tax breaks and opening new markets abroad.

Intel, though, is an example of what many see as a core problem: As Obama pointed out, the new factory being constructed will employ 1,000 people. But the chip-maker shrunk its overall workforce by about 5,000 jobs between 2000 and 2010, according to Securities and Exchange Commission filings.

Though the prospect of creating factory jobs might appeal to voters, most economists agree that realistically, Obama is at best stemming the bleeding. Automation — plus cheap foreign labor — has changed the industrial makeup of the country and displaced millions of assembly-line workers in a way that just can’t be reversed. [link]
The manufacturing sector here in America can still have a robust future. Though not with a heavy-handed control freak as president.

If Obama's replacement come November can free up industry by eliminating a host of stifling regulations, reduce the myriad tax assessments leveled on U.S. corporations, and make unions compete for jobs, this country can regain its preeminent position in the world as its manufacturing powerhouse. Even with Chinese labor being so cheap.

But it won't happen as long as Obama is in the White House. Despite his promises.

Remember "Made in America"? Neither do I. But from the history books we can ...