Saturday, September 29, 2012

Who Has Two Thumbs And Oversaw The Growth In Manufacturing – This President

By Nathaniel Downes   September 26, 2012    AddictingInfo

The good news for President Obama keeps on coming. Now Bloomberg is confirming what many have said, that the US is experiencing solid Manufacturing growth. The new level of 12 million manufacturing positions is still 7 million less than the highest point, set in 1979, but it is a solid improvement after the Bush administration had manufacturing drop from 17 million when he took office to 11 million when he had left. Obama’s 8% gain in Manufacturing jobs is a bright spot and an upswing for the nation.

Now, some have said that the reason for US manufacturing decline has been the cost of the US worker. But studies show that the US Worker’s direct cost is now 40% lower than comparable manufacturing nations, while the overall cost is higher due to factors outside of the worker. Reports cite the lack of a national healthcare, that the US lacks a full pension system, that US courts are too heavily weighed in favor of giant corporations and not to smaller entities, for US having lax consumer protections, and the lack of regulations as the prime drivers for increased manufacturing costs, not the workers.

It was none other than Alexander Hamilton, the first US Secretary of the Treasury, who put forth that America must be a nation of manufacturers. His economic program with its heavy focus on domestic, self-sufficient manufacturing, became known as the American School of Economics.

Obama is not an economics master, he is a constitutional lawyer turned politician. But even he understands that a strong manufacturing base is essential for our economy. That message seems lost on the Republican party, who have run someone who outsourced jobs to foreign nations.

Thom Hartmann gave advice to President Obama shortly after he won in 2008, before he had taken office. That advice was simple, listen to the wisdom of Alexander Hamilton, of the American School. With the turnaround in manufacturing, and the Obama Administration standing up to China and other trade-bullies, it might be that the President has listened after all.

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