Obama imposed 35% tariffs on imports of tires that China
makes for the low-price end of the market. George Will
describes him as "invertebrate as he invariably is when
organized labor barks." No backbone or spineless are
less esoteric.
Since China is one of a handful of nations capable of
buying our debt, and, Obama is a debt specialist, he
seems either courageous or ignorant.
The costs of the president's sacrifice of the national
interest to the economic illiteracy of a single labor
union [United Steelworkers] may also include injuries
China might inflict by imposing retaliatory protectionism
or reducing its purchases of U.S. government debt,
purchases that enable Americans to consume more government
services than they are willing to pay for.
Obama said that his programs would create jobs. He just
didn't say which country the jobs would be created in -
certainly not the United States!
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