Treasury Secretary: Outsourcing can help economy

[kalian]

http://cnn.technology.printthis.clickability.com/pt/cpt?action=cpt&title=CNN.com+-+Treasury+Secretary%3A+Outsourcing+can+help+economy+-+Mar+30%2C+2004&expire=&urlID=9778011&fb=Y&url=http%3A%2F%2Fedition.cnn.com%2F2004%2FTECH%2Fbiztech%2F03%2F30%2Fsnow.outsourcing.ap%2F&partnerID=2016

CINCINNATI, Ohio (AP) -- Treasury Secretary John Snow says outsourcing of American jobs, a hot issue in the presidential campaign, can help make the economy stronger.

"It's part of trade," Snow said. "It's one aspect of trade, and there can't be any doubt about the fact that trade makes the economy stronger."

"You can outsource a lot of activities and get them done just as well at a lower cost," Snow said after being asked about the issue during a stop here Monday.

"If we can keep the American economy strong and growing and expanding, we'll create lots of jobs."

Snow's visit came on the heels of last week's Ohio Poll from the University of Cincinnati showing President Bush and Democratic challenger John Kerry running neck and neck among voters in the battleground state of Ohio.

...more...

Amazing how the spin machine is working overtime on the outsourcing
issue.

BTW, just copy and paste the link, should work.

[aquart]

1. WHEN did he say this?

[kalian]

2. Don't know....

there is no date on this CNN page... :shrug:

[brokensymmetry]

3. Looks like today, 3/30

Here's another link.

http://www.mercurynews.com/mld/mercurynews/news/politics/8313801.htm

Maybe Snow wants Kerry to win as badly as we do? :evilgrin:

[seasat]

4. It's also in AP newswire.

Link to Story

In a perfect world and in the long run outsourcing is a good thing. In the real world, that the rest of us live in, outsourcing can be trouble. First trade is not free with countries such as India and China. They both have huge tariff barriers to their markets. Outsourcing one type of labor to them and boosting their economy does not open them up to exports from the US (boosting our economy). In the short term, there are job losses in the US and deflation in wages. With the current consumer debt load brought on by cheap easy credit, this can lead to a disaster. If US job growth doesn't pick up, the economy will decline further since consumers will not be able to pay their debt. This unsustainable policy will lead a downturn that will make the past recessions look mild.

[On the Road]

5. I Can't Believe He's Sticking to This Line

I thought the Mayberry Machiavellis were absorbed with short-term political gain. This doesn't sit well with the GOP base.

And unless his statement is unqualified ("within limits"), neither is it good macroeconomics. If a third of all American jobs left the country, would that make us economically stronger as a nation?

Snow is seriously understimating the real power and the political impact of this issue.

[jacksonian]

6. GOP base = very rich people

understand?

[On the Road]

7. No, GOP Voters are NOT Rich

this just points out that the Bush administration wants to help the rich and screw the workers.

The statements have been completely out of touch. Not smart politics at all if Bush wants to get reelected.

[Robert Oak]

8. Senators on India Pac money

Hi,

I'm a "newbie" so I can't start a topic, but this is
amazing...

India uses Indians with American citizenship to form 1st the India
PAC and now the Senate:

http://timesofindia.indiatimes.com/cms.dll/articleshow?msid=593175

to "buy" our congress for a Foreign nation's agenda.

Hilary Clinton is co-chair.

If anyone wants to make this a topic I'd appreciate it.
http://www.outsourcecongress.org/rep/indiapac/index108.html
is also a list of congress members (house) on India PAC.