If you think health care is expensive now, wait until you see what it costs when it's free.Could not the same thing be said about free trade?
I know that is blasphemy, but I must bring it up. If free trade is so good for the economy, then why is our economy sucking harder than Monica Lewinsky?
Rick Newman of Yahoo News recently mocked Trump for proposing we punish countries that take unfair advantage of our free trade agreements. He noted that our trade deficits with China, Japan and Mexico total only a half trillion dollars a year.
"Those numbers might seem high, but in an $18 trillion economy, they don't really worry economists. What does worry economists is Trump's plan to slap tariffs of 35% to 45% on imports from China and Mexico, a tax that would be passed along almost entirely to consumers. Trump's logic seems to be this: Low-wage countries where workers get paid a fraction of U.S. wages are basically undercutting American workers, and therefore ought to be punished. But his tariffs would punish Americans too, especially lower-income consumers who benefit most from cheap imports. Most economists decry the kind of protectionism Trump is calling for, because it props up inefficient firms, reduces the incentive to innovate and depresses living standards over time," Newman wrote.
Besides, he said, we are adding jobs so free trade must be working, right?
"If Trump's tariffs and other protectionist measures ever went into effect, they would harm most workers before helping them, if they helped at all. The logic might work if applied selectively in a rousing campaign speech, but in the real world, it fails." Newman wrote.
Yes, what would a billionaire know about real world economics.
Readers left more than 7,000 comments on Newman's post. He followed it up with another post. His defense:
Economist Alan Tonelson also weighed in to argue the soaring trade deficit since 2009 has cut economic growth by about 9%.
There’s no doubt growth has been slower since the last recession ended in 2009 than it was before the recession. There are many causes, however, and it’s not as easy to establish cause-and-effect relationships in a complex economy as Trump makes it sound. He does know how to rally angry voters, however, and a lot of them let us know how they feel. Keep it coming.Which is nonsense. His first post was to fact-check Trump. His second post said you cannot fact-check free trade.
You know, maybe the public is smarter than the reporter on this one. Maybe they know about the real world.
We need to discuss this. If free trade is so good for America, why are we the ones posting the trade deficits in all these agreements?