To Congress: Since you've been gone
- Our monthly trade deficit with China hit an all-time high: $30.1 billion!
- Manufacturing added 14,000 jobs in August, but adjusted numbers left the #AAMeter at just new 12,000 jobs in the sector since President Obama began his second term.
- The San Francisco-Oakland Bay Bridge’s eastern span opened ... years late, a few billion dollars over budget and full of Chinese steel.
Now, AAM understands that you (Congress) have other issues on your agenda this September— but let's make sure action on currency manipulation is on that list.
Why? Getting tough on currency manipulators will allow American companies and workers to trade fairly on the international market. Currency manipulation causes a huge American trade deficit with China; the loss of American jobs to overseas producers; and undervalued imports, like the Bay Brdige's steel.
August's record-setting deficit proves we can't keep waiting to address this issue. Inaction causes American companies to lose business and American workers to lose their jobs.
So, Congress, in the immortal words of Kelly Clarkson: You have your chance — don’t blow it. Stop China's currency manipulation (though she didn't say that last part, that was us)!
And if you haven’t already, make sure you urge your representative to support legislation that would crack down on currency manipulators.
Image by Flickr user US Capitol, a U.S. government work
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