NAFTA
Posted: Sat Aug 16, 2014 7:32 am
20 facts that show how NAFTA is destroying the US economy.
Many Americans like to remember Bill Clinton as a "great president" for some reason. Well, it turns out that he was completely and totally wrong about NAFTA. The following are 20 facts that show how NAFTA is destroying the economy...
#1 More than 845,000 American workers have been officially certified for Trade Adjustment Assistance because they lost their jobs due to imports from Mexico or Canada or because their factories were relocated to those nations.
#2 Overall, it is estimated that NAFTA has cost us well over a million jobs.
#3 U.S. manufacturers pay Mexican workers just a little over a dollar an hour to do jobs that American workers used to do.
#4 The number of illegal immigrants living in the United States has more than doubled since the implementation of NAFTA.
#5 In the year before NAFTA, the U.S. had a trade surplus with Mexico and the trade deficit with Canada was only 29.6 billion dollars. Last year, the U.S. had a combined trade deficit with Mexico and Canada of 177 billion dollars.
#6 It has been estimated that the U.S. economy loses approximately 9,000 jobs for every 1 billion dollars of goods that are imported from overseas.
#7 One professor has estimated that cutting the total U.S. trade deficit in half would create 5 million more jobs in the United States.
#8 Since the auto industry bailout, approximately 70 percent of all GM vehicles have been built outside the United States. In fact, many of them are now being built in Mexico.
#9 NAFTA hasn't worked out very well for Mexico either. Since 1994, the average yearly rate of economic growth in Mexico has been less than one percent.
#10 The exporting of massive amounts of government-subsidized U.S. corn down into Mexico has destroyed more than a million Mexican jobs and has helped fuel the continual rise in the number of illegal immigrants coming north.
#11 Someone making minimum wage in Mexico today can buy 38 percent fewer consumer goods than the day before NAFTA went into effect.
#12 Overall, the United States has lost a total of more than 56,000 manufacturing facilities since 2001.
#13 Back in the 1980s, more than 20 percent of the jobs in the United States were manufacturing jobs. Today, only about 9 percent of the jobs in the United States are manufacturing jobs.
#14 We have fewer Americans working in manufacturing today than we did in 1950 even though our population has more than doubled since then.
#15 Back in 1950, more than 80 percent of all men in the United States had jobs. Today, only 65 percent of all men in the United States have jobs.
#16 As I wrote about recently, one out of every six men in their prime working years (25 to 54) do not have a job at this point.
#17 Because we have shipped millions of jobs overseas, the competition for the jobs that remain has become extremely intense and this has put downward pressure on wages. Right now, half the country makes $27,520 a year or less from their jobs.
#18 When adults cannot get decent jobs, it is often children that suffer the most. It is hard to believe, but more than one out of every five children in the United States is living in poverty in 2014.
#19 In 1994, only 27 million Americans were on food stamps. Today, more than 46 million Americans are on food stamps.
#20 According to Professor Alan Blinder of Princeton University, 40 million more U.S. jobs could be sent offshore over the next two decades if current trends continue.
http://theeconomiccollapseblog.com/arch ... he-economy" onclick="window.open(this.href);return false;
Caveat: Please note that this is one of those "The sky is falling" sites.
Many Americans like to remember Bill Clinton as a "great president" for some reason. Well, it turns out that he was completely and totally wrong about NAFTA. The following are 20 facts that show how NAFTA is destroying the economy...
#1 More than 845,000 American workers have been officially certified for Trade Adjustment Assistance because they lost their jobs due to imports from Mexico or Canada or because their factories were relocated to those nations.
#2 Overall, it is estimated that NAFTA has cost us well over a million jobs.
#3 U.S. manufacturers pay Mexican workers just a little over a dollar an hour to do jobs that American workers used to do.
#4 The number of illegal immigrants living in the United States has more than doubled since the implementation of NAFTA.
#5 In the year before NAFTA, the U.S. had a trade surplus with Mexico and the trade deficit with Canada was only 29.6 billion dollars. Last year, the U.S. had a combined trade deficit with Mexico and Canada of 177 billion dollars.
#6 It has been estimated that the U.S. economy loses approximately 9,000 jobs for every 1 billion dollars of goods that are imported from overseas.
#7 One professor has estimated that cutting the total U.S. trade deficit in half would create 5 million more jobs in the United States.
#8 Since the auto industry bailout, approximately 70 percent of all GM vehicles have been built outside the United States. In fact, many of them are now being built in Mexico.
#9 NAFTA hasn't worked out very well for Mexico either. Since 1994, the average yearly rate of economic growth in Mexico has been less than one percent.
#10 The exporting of massive amounts of government-subsidized U.S. corn down into Mexico has destroyed more than a million Mexican jobs and has helped fuel the continual rise in the number of illegal immigrants coming north.
#11 Someone making minimum wage in Mexico today can buy 38 percent fewer consumer goods than the day before NAFTA went into effect.
#12 Overall, the United States has lost a total of more than 56,000 manufacturing facilities since 2001.
#13 Back in the 1980s, more than 20 percent of the jobs in the United States were manufacturing jobs. Today, only about 9 percent of the jobs in the United States are manufacturing jobs.
#14 We have fewer Americans working in manufacturing today than we did in 1950 even though our population has more than doubled since then.
#15 Back in 1950, more than 80 percent of all men in the United States had jobs. Today, only 65 percent of all men in the United States have jobs.
#16 As I wrote about recently, one out of every six men in their prime working years (25 to 54) do not have a job at this point.
#17 Because we have shipped millions of jobs overseas, the competition for the jobs that remain has become extremely intense and this has put downward pressure on wages. Right now, half the country makes $27,520 a year or less from their jobs.
#18 When adults cannot get decent jobs, it is often children that suffer the most. It is hard to believe, but more than one out of every five children in the United States is living in poverty in 2014.
#19 In 1994, only 27 million Americans were on food stamps. Today, more than 46 million Americans are on food stamps.
#20 According to Professor Alan Blinder of Princeton University, 40 million more U.S. jobs could be sent offshore over the next two decades if current trends continue.
http://theeconomiccollapseblog.com/arch ... he-economy" onclick="window.open(this.href);return false;
Caveat: Please note that this is one of those "The sky is falling" sites.