It would be great if we could double exports in the next five years. However, it’s not realistic and relies heavily on a lot of wishful pie in the sky thinking and the odds of it happening in the real world where most of us live – well go buy lottery tickets the odds are better.
Chairmen O said in the State of the Union address and has repeated it a few times about doubling the U.S. exports in the next 5 years and with magic create 2,000,000 new jobs.
Ok I’ll bite I’ve been drinking heavily this morning – so let’s look at this goofy idea…
Obama export plan includes trade deals – Geithner
President Barack Obama’s plan to double U.S. exports over five years includes passing free trade agreements with Panama, Colombia and South Korea that have been delayed for years, U.S. Treasury Secretary Timothy Geithner said on Wednesday.
OK first let us think about this logically and not the way the delusional Obama thinks of them. First a few facts (don’t be afraid liberals it’s just reality)…
December 2008 U.S. International Trade in Goods and Services report by the Department of Commerce’s U.S. Census Bureau and the Bureau of Economic Analysis, U.S. exports of goods and services grew by 12.0% in 2008 to $1.84 trillion, while imports increased 7.4% to $2.52 trillion.
So in December 2008 the latest data posted when unemployment was at unbearable 5% the US exported $1.84 trillion in goods and services reflecting a yearly growth rate of 12%, this at a time when the economy was good – you know during that prior administration. Obama seems to think that we can increase exports by 20% per year during a worldwide recession and national unemployment around 10% over the next five years – what kind of dope is this guy smoking? Not that one of our biggest trading partner, number three China aims to reduce imports to their country, oh wait they are! So I ask with one of our biggest trade partner engaging in protectionism, which they whine about when other countries do it who is going to make up the difference in trade and then double it? Who? Haiti?
Get this – part of this grand plan is the doubling of exports is to utilize exports to Panama, Colombia and South Korea via a new free trade agreement.
So let’s see how the exports to these countries look for FY 2008… Read more…
