Robert Reich is echoing the usual liberal refrain that the answer to our economic woes is “Rebuild our infrastructure.” Yes, our infrastructure is in need of repair. Yes, it would provide jobs. But at what cost? Will it make us more competitive–or will it be one more bubble to pop?
Judging from the revolving lobby-door, we know who will profit. More importantly, how far can a country go in debt?
I am not suggesting that rebuilding our aging infrastructure is a bad idea. Far from it. But let’s address how we got into the mess we are now in, not suggest that infrastructure is the answer. If this is all Reich can offer, he certainly is in the wrong century.
Trade has put China in the driver’s seat. Seriously addressing our trade imbalance…its genesis and effects…is the only course of action.
I note that Reich–like most Democrats–has ignored Robert Cassidy’s recent remarks on how the Clinton administration failed its responsibility when negotiating trade deals, specifically China’s entry into the WTO. Robert Cassidy, a colleague of Robert’s, was the former assistant U.S. trade for Asia and for China. For more on Cassidy’s remarks, see “Failed Trade Policy” below.
How about it, Robert? Care to comment on Cassidy’s confession?