U.S. Trade Deficit

In recent years our economy has made the headlines for its undeniable crisis.  Our high unemployment rates, increasing debt and trade deficit are just some of the problems we face.  We’ve heard about it time and time again, but how do we begin to fix this? 

I think we need to focus on our trade deficit with China to start.  China is known as a currency manipulator, they lower their currency so that then their exports are cheaper than our exports.  This then affects our manufacturing, our jobs.  It’s a domino effect. We need to end tax breaks for companies taking jobs overseas, and decrease tax on manufacturers doing business here.  This will offer them an incentive for creating business here and will in turn create more jobs.  Then our economy will become stronger. 

We need to do whatever is necessary to get our jobs here and I really think it lies in formulating a plan to get businesses to manufacture here and not outsourcing.  Our standards for trade with China need to tighten.  China looks for its financial interest, and if we set in place limits or standards that they must abide by if they want our business they will, but not doing so will just continue to fuel a dependency on them.