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Election 2004 How are Working Families Doing Under the Bush Administration? Print copies for distribution. TRADE |
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People Like Us |
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defends outsourcing Bush supports giving $60 billion in tax breaks to companies that lay off workers and send jobs overseas. Since taking office, each of Bushs federal budget proposals included tax breaks for companies that export jobs overseas. [H.R. 2896, 2004; The Washington Post, 10/23/03; Bush fiscal years 2002-2005 budget proposals] Bush economists say exporting jobs is good for America. According to the Economic Report of the President, 2004, When a good or service is produced more cheaply abroad, it makes more sense to import it than to provide it domestically. [Economic Report of the President, 2004] The U.S. trade deficit with China widened to a record $14.2 billion as exports continued to lag behind and imports soared to an all-time high. China currency manipulations are partly to blame for this record deficit. [Reuters, 8/13/04] |
U.S.
experiences massive job losses America has lost 1.8 million private sector jobs as manufacturers and other employers have moved operations to low-wage countries. President Bush is 7 million jobs short of the prediction he made in February 2002 that the U.S. would gain 900,000 jobs per month. [Bureau of Labor Statistics, 2002 Economic Report of the President] |
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