Right now, the United States consumes far more wealth than it produces. This nation buys much, much more from the rest of the world than they buy from us. This is called a "trade deficit", and it is one of the most important economic statistics. The U.S. runs a massive trade deficit every single year, and it is wiping out our national wealth, it is destroying our surviving industries and it is absolutely shredding middle class America.
We cannot allow tens of thousands of factories to continue to leave the United States. We cannot allow millions of jobs to continue to be "outsourced" and "offshored". We cannot allow tens of billions of dollars of our national wealth to continue to be transferred into foreign hands every single month.
The truth is that the global economy is bad for America. The following are 23 facts which prove that globalism is pushing the standard of living of the middle class down to third world levels....
#1 From December 2000 to December 2010, the U.S. ran a total trade deficit of 6.1 trillion dollars.
#2 The U.S. trade deficit was about 33 percent larger in 2010 than it was in 2009.
#3 The U.S. trade deficit with China in 2010 was 27 times larger than it was back in 1990.
#4 The U.S. economy is rapidly trading high wage jobs for low wage jobs. According to a new report from the National Employment Law Project, higher wage industries accounted for 40 percent of the job losses over the past 12 months but only 14 percent of the job growth. Lower wage industries accounted for just 23 percent of the job losses over the past 12 months and a whopping 49 percent of the job growth.
#5 Between December 2000 and December 2010, 38 percent of the manufacturing jobs in Ohio were lost, 42 percent of the manufacturing jobs in North Carolina were lost and 48 percent of the manufacturing jobs in Michigan were lost.