Jobs and Seniors
On Thursday, Representative Michaud wrote a column on the subject of the latest EPI working paper on our trade with China.
Over the past 14 years, this study finds that our trade deficit with China has risen more than 20-fold to a record high $60.3 billion. A total of 1.5 million American jobs were lost because of our trade deficits with China between 1989 and 2003. The rate of American job loss soared after China entered the World Trade Organization in 2001. The pace is accelerating, and the trend looks permanent…
The new report finds that Maine lost more jobs to China as a share of total state employment than any other state. These devastating trade numbers add up to one conclusion: that too many Maine workers are losing their jobs because of crippling and unfair trade practices.
He calls for hearings on whether China breaks WTO rules by subsidizing its industries and for restoring import duties in cases where illegal subsidies have occurred.
I’d also like to point out the column Michaud wrote last month in which he rips into the plans to privatize Social Security and declares that there is no crisis. This week he went a step further and submitted a constitutional amendment that would prohibit any privatization of Social Security.
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