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Politics : Formerly About Advanced Micro Devices
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To: Joe NYC who wrote (456816)2/16/2009 1:18:02 PM
From: tejek1 Recommendation  Read Replies (2) of 1576039
 
So we are mainly stimulating economy of China, while adding on debt on backs of the US taxpayers.

China is self stimulating. Its exports have crashed 20% YOY. China's growth rate has plummeted and some think its in negative territory. Unlike the US, China is fortunate in that its sitting on a huge pile of cash reserves.

I think the way to stimulate the US economy is by encouraging domestic production and discouraging consumption of imported goods. Shifting taxation from production to consumption (joining the rest of the world) would be a step in the right direction. Borrowing from abroad in order to buy more imports is not.

Doing as you suggest......becoming protectionist would encourage other countries to do the same. We still have industries that export to other nations. We would only hurt ourselves in the long run.
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