Before the election Pete DuPont, former Republican governor of Delaware and one of the DuPont fortune heirs, wrote a column posted on opinionjournal.com excoriating his own party: Tom Faranda's Folly: "In politics as in other jobs, there is a price to pay for poor performance" while asking the rhetorical question "but do we deserve the Democrats?"
This morning he has a column that is a round up of Democratic thinking on the economy entitled: Watch Your Wallet - Think the Republicans were bad? Here's a preview of the Democrats' economic policies. The entire column is well worth reading.
OpinionJournal - Outside the Box
The column discusses tax increases, spending increases, the alternative minimum tax, energy, protectionism, and social security. Here's the section on protectionism:
Almost as passionate a liberal idea as spending more money is abandoning free trade and returning to protectionism. The AFL-CIO wants to limit lower priced goods from being imported into America even though it gives people a wider variety of products to choose from.
The truth is that the export of goods and services from America accounted for 10.4% of our gross domestic product in 2005 and created more than five million jobs over the previous 10 years. Imports have been increasing American trade deficits over the last quarter century, but U.S. employment simultaneously rose from 99 million to 145 million people. So trade has not cost us jobs; in fact it brings jobs into America--foreign auto manufacturers building cars here being the best example. Nevertheless, the Democrats will start by refusing to renew the president's trade authority, which expires next year.
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