Maybe Obama has this right?

Down and dirty debates (well, yeah, politics).
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scottm
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Maybe Obama has this right?

Post by scottm »

EU attacks 'Buy American' clause
http://news.bbc.co.uk/2/hi/business/7866900.stm
The EU has increased its pressure on the US to reconsider the "Buy American" clause in the $800bn (£567bn) economic recovery package now before Congress.

The clause seeks to ensure that only US iron, steel and manufactured goods are used in projects funded by the bill.

A European Commission spokesman said it was the "worst possible signal" the Obama administration could send out.
Isn't a great deal of our problem based on the fact we don't buy
American products anymore? I would think spending our money
internally to promote our own workforce is ideally what we want
to happen. You can't spur American workforces by shipping our
money overseas. I hope Obama sticks to "Buy American" goals!
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scottm
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Re: Maybe Obama has this right?

Post by scottm »

Nope, it was only a pipe dream. He caved to the Europeans' demands.

Obama to water down 'Buy American' plan after EU trade war threat
http://www.timesonline.co.uk/tol/news/w ... 655115.ece
The European Union warned the US yesterday against plunging the world into depression by adopting a planned “Buy American” policy, intensifying fears of a trade war.

The EU threatened to retaliate if the US Congress went ahead with sweeping measures in its $800 billion (£554 billion) stimulus plan to restrict spending to American goods and services.
Although maybe it's true that "Buy American" would deepen recession?
Which would mean that he said it in order to get union worker support?

I'm no global economist, but I sure do prefer "Made in U.S.A" goods. :wink:
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