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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: steve dietrich who wrote (530558)	1/27/2004 1:00:36 PM
From: Lizzie Tudor	Respond to of 769667

well it is actually even worse for corporate Cap Ex. Because when these firms offshored IT, that meant any capital expenditures for PCs and software needed to be procured out of India. So companies like Oracle and Intel who offshored their jobs away also offshored their market away. And now they wonder what happened to the "US upgrade cycle". What we should have learned after all the corporate corruption scandals in 01/02 is that US megacorps cannot be left alone to exploit every economic situation totally unchecked. Because they can end up damaging the ecosystem and that is what happened with all this offshoring. The government should have implemented a program to monitor the practice, force companies to disclose where their market and workers are based, and if they are an offshore labor force with an onshore market, some sort of reparations should have been paid. Or something. The deficit balloon is related to offshoring also. The offshored professional labor force were also the highest % taxpayers, with fica + federal coming in at about 40% of salary. Poof gone and deficit out of control. More evidence the Bush econ team "doesn't get it". Anyway too late for Bush, he ignored the crisis and I am certain he will go down, more for this even than Iraq, but these two matters together- economic devastation of the white collar workforce plus Iraq mess plus budget busting = anybody but Bush.