Pic Of The Moment: The 1%'s 30 Years Of Failed Trickle-Down

[niyad]

38. during chimpy's reign of terror, one of scum in his admin said that "outsourcing jobs is good for

Last edited Tue Dec 3, 2013, 12:35 PM - Edit history (1)

the economy". I wondered who in the hell they were trying to kid, and finally realized it wasn't us he meant.


okay, I googled to see if I could find the idiot (took three pages of wading through "outsourcing is GREAT for our economy) to find this (and funny how the narrative has changed, eh?):


ByDavid Hancock CBS February 13, 2004, 8: 34 PM
Bush Econ Advisor: Outsourcing OK



This campaign news analysis was written by Douglas Kiker of the CBS News Political Unit
If one thing illustrates the kind of year the Bush administration has stumbled and bumbled its way through in 2004, it was the comments earlier this week by the president's chief economic adviser, Greg Mankiw.

Mankiw wrote that the movement of U.S. jobs overseas due to cheaper labor costs – "outsourcing" he dubbed it in a remarkable display of political tone deafness – would prove "a plus for the economy in the long run," and was simply "a new way of doing international trade."
Mankiw's assertion – certainly sound economic theory and something that would play well at, say, a Harvard graduate school lecture – illustrates the political ineptitude the White House has exhibited in recent weeks that threatens its prospects for a second term unless things change course, and soon.

It did not take long for Republicans to realize Mankiw's comments were radioactive. GOP House Speaker Dennis Hastert lambasted him, saying, "His theory fails a basic test of real economics."

President Bush himself – who, it should be noted, Mankiw was speaking for when he wrote what he did – did not fire him (as he has with previous economic advisers who've gone off the reservation). But he quickly distanced himself from the theory that the "outsourcing" of jobs is a good thing.

Speaking Thursday in Pennsylvania, a key swing state in 2004, the president said: "The numbers are good, but I don't worry about numbers. I worry about people. There are still some people looking for work because of the recession. There are people looking for work because jobs have gone overseas. And we need to act in this country. We need to act to make sure there are more jobs at home and people are more likely to retain a job."

. . . .

http://www.cbsnews.com/news/bush-econ-advisor-outsourcing-ok/