The big news on the economy today is that the
stock market fell. It dropped 30 some points.
The reason given for the fall is weak manufacturing
for the month.
Now, this is news? There has been much discussion
on this blog about the diminishing manufacturing
sector of the U.S. economy. We don't even
manufacture baseballs any more! Apparently, the
Republicans would like to kill U.S. automobile
manufacturing as well. How can people be put
back to work with no manufacturing? How can a
civilization exist without manufacturing?
How does the United States eliminate its huge
debt without manufacturing? We already run huge
deficits in our balance of trade, importing more
than we export. How do we pay our existing debt,
our interest on the debt, Social Security-Medicare-
Medicaid, repair the infrastructure, education,
general health care, explore space and the oceans,
develope science and technology, national defense,
maintain our national parks, environmental issues,
sustain agriculture, airline safety, consumer
protection, and the rest of our needs and obligations?
How do we do this without manufacturing, whereby
citizens work, earn money, and pay taxes. How do we
work our way back even without manufacturing? What
has Obama and Congress done to change the situation?