Now, a Little Sanity
Can John Kerry come back off the ledge now? Not only has the latest jobs report shown that payrolls have had the biggest gain in 4 years, but another report out today shows that the crybabying about the evils of outsourcing were heavily overblown.Some good quotes from the stories:
The movement of U.S. jobs abroad "has been blown out of proportion" mainly because domestic companies in the United States have been slow to increase hiring, said Martin Baily, chairman of former President Bill Clinton's Council of Economic Advisers.
...the number of Americans employed by U.S. affiliates of majority non-U.S. companies grew by 4.7 million from 1997 through 2001. In the same period, the number of non-Americans working at affiliates of majority-U.S. companies abroad rose by 2.8 million.
Kerry, the 60-year-old senator from Massachusetts, has made the movement of jobs abroad a centerpiece of his attacks on Bush. In a speech Feb. 19, Kerry vowed to "repeal every tax break and loophole that rewards any Benedict Arnold CEO or corporation for shipping American jobs overseas."
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