This blame falls squarely on politicians who have squandered tax receipts in order to get re-elected year after year. And now Obama is drunk with power and thinks more spending will get HIM out of HIS jam.
Only a radical and massive spending freeze, gov’t lay-offs, and reduction of taxes will point us in the right direction.
Multi-national corporations have moved the majority of our manufacturing to China for a couple of reasons.
First, it's cheaper. Low cost labor, little environmental and worker safety regulation. No 401k’s, No health insurance, no pensions and a fraction of the compensation.
Second, the potential for a HUGE consumer class in China and India. Raise the standard of living for the average Chinese worker...guess what? You now have a consumer.
With a population 4 times that of the United States, both China and India are the place to be.
Thanx allot U.S. Congress, thanx allot.