Leo Hindery, Jr.
Chairman, U.S. Economy/Smart Globalization Initiative at the New America Foundation
Posted: July 6, 2010 09:31 AM
"Doubling U.S. Exports" Not a Sufficient Jobs Policy: Not Even Close
In his January State of the Union Speech, President Obama first committed his administration to the goal of doubling U.S. exports within five years. Mr. Obama said that this will "create two million jobs, about the same number that the U.S. manufacturing sector has shed during this economic downturn." His administration spokesman said just the other day that "the U.S. is on track to hit this export target."
There are three problems with this pledge. First, doubling U.S. exports would create just 10 percent of the 22 million new jobs we need, and yet, combined with multiple new free trade agreements (FTAs), it seems to be the only specific jobs policy coming from the White House. Second, this strategy wrongly overshadows the more critical imperative of 'import substitution'. Third, the first three FTAs being proposed -- with South Korea, Panama and Colombia -- are very poorly negotiated and will cause even more American jobs to be lost overseas.
Click Here to read the the entire article at the Huffington Post.