Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (45744)	3/13/2004 8:09:40 PM
From: IQBAL LATIF	Respond to of 50167

With Democrats upping the ante on the outsourcing issue, US President George W Bush today warned Americans that “economic isolationism” was a recipe for “disaster”, reminding them that millions of jobs in the country depended on opening of economy by other nations. “Some politicians in Washington.... want to respond in old, ineffective ways. They want to increase federal tax.... They want to build up trade walls, and isolate America from the rest of the world — but economic isolationism would threaten the millions of good American jobs that depend on exports,” Mr Bush said, referring to the growing concern over loss of jobs, in his weekly radio address today. “These tired, old policies of tax and spend, and economic isolationism, are a recipe for economic disaster. There’s a better way to help our workers and help our economy,” he said. “We must pursue a confident policy of trade. Millions of American jobs depend on our goods being sold overseas; and foreign-owned companies employ millions of Americans here at home. We owe those workers our best efforts to make sure other nations open up their markets, and keep them open,” Mr Bush said. He said the answer to loss of jobs due to outsourcing is training American workers for the next, higher level of jobs. “We need to make sure American workers are prepared for the higher-skilled jobs our economy is creating.... We have a plan to help our high schools and community colleges train people in the skills they need. We’re helping workers who have been displaced by the effects of trade, by giving them assistance for job training, and health care, and relocation expenses”. The White House is considering providing relief to American workers laid off by outsourcing in order to dampen the outcry against it. At present, relief for workers laid off — beyond the six-month unemployment benefit which too may be extended — is available only to industrial workers. US trade representative Mr Robert B Zoellick hinted this week that the White House may back a Bill to expand benefits further to service workers such as engineers and telephone call-centre employees, whose job losses to India and other countries have become a major source of voter anxiety which may benefit the Democrats in the November presidential elections.