The American stimulus bill is to be signed into law with a ``buy-American'' provision mandating that stimulus-funded programs only fund those that utilize U.S. manufactured goods.
Additionally, it makes it more difficult for banks, which received funds under the Troubled Assets Relief Program (TARP), to hire immigrants.
In order to appease free-trade Republicans, President Barack Obama pushed for language noting that the United States will honor its international agreements. The language doesn't change the effect this bill will have on the superpower and the world.
The United States is a country built on the notion of political and economic freedom. With vibrant and robust free market capitalism and a political system able to react quickly to changing dynamics, it has maintained one of the most prosperous societies the world has ever known.
Because of our financial crisis, opponents of free trade were able to successfully fight to include in the stimulus bill the buy-American principle and other similar provisions in order to ensure the protection of jobs in industries that are unable to compete with external competitors.
The opponents may ``save'' a few jobs, but the costs far outweigh the benefits.
FULL ARTICLE
22 February 2009
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