Yesterday, on Fox News Sunday, Arlen Specter made another one of his ridiculous statements. This time about China: "They're very shrewd. They take our jobs, they take our money, and then they lend it back to us."
The stupidity of that statement is that China isn't being shrewd. Instead,
America, as a country, is just being dumb. China didn't create our debt. We did. If it weren't for China's aid, we'd be wallowing in it to our possible financial collapse.
China didn't tax our manufacturing jobs out of existence. We did it ourselves with lawmakers like Arlen who can't control their tax and spend attitudes. In fact, the health care bill that was just passed is only going to make it easier for China to "steal" even more jobs away from us.
Among the world's economies, we're the easy mark because of people like Arlen Specter. People who don't seem to understand what drives the business world and what are the causes of our constant decline in manufacturing jobs. In the 1950's we only imported about 5% of what we consumed. Today, we import more than we export and that imbalance continues to grow with every new tax increase and federal regulation. China is just the latest country to take advantage of our own ignorance. People seem to forget that it was once Japan that stole most of our electronics and auto manufacturing. China is just the latest in a long line of countries who see America as an easy target. They all can't be that shrewd, now, can they, Mr. Specter?
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