CHART OF THE DAY: Want to grow jobs and cut deficits? Boost manufacturing.
As the above chart prepared by the Alliance for American Manufacturing's (AAM) Sam Morgante demonstrates, lost manufacturing means lost revenue for the U.S. economy:
1. The U.S. lost at least $245 billion in manufacturing wages in the last decade due to 5.5 million lost manufacturing jobs. That doesn’t even include the “ripple effect” through other sectors.
2. Ending China’s currency manipulation would create more than 1 million jobs, add to economic growth, and reduce the budget deficit by $500 billion over the next six years.
3. If California had held its share of manufacturing jobs from 2000-2007, its state budget would be in balance.
Want to turn the economy around? Click here for key policy proposals to revitalize U.S. manufacturing.
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