The IUSB Vision Weblog

The way to crush the middle class is to grind them between the millstones of taxation and inflation. – Vladimir Lenin

UK: Obama Backing Down on “Buy American Policy” in Stimulus Bill

Posted by iusbvision on February 4, 2009

This is an outrage.

This is supposed to be a bill to help Americans who are suffering right? Ok we know it does very little of that but that is at least how they are marketing it. So why not take a bunch of our tax dollars from the stimulus and send it right overseas. Sound like a good idea? I didn’t think so either….

UK Times:

The European Union warned the US yesterday against plunging the world into depression by adopting a planned “Buy American” policy, intensifying fears of a trade war.

The EU threatened to retaliate if the US Congress went ahead with sweeping measures in its $800 billion (£554 billion) stimulus plan to restrict spending to American goods and services.

Gordon Brown was caught in the crossfire as John Bruton, the EU Ambassador to Washington, said that “history has shown us” where the closing of markets leads — a clear reference to the Depression of the 1930s, triggered by US protectionist laws.

Last night Mr Obama gave a strong signal that he would remove the most provocative passages from the Bill.

What pure, unadulterated B.S.

America investing in itself and our own infrastructure is not a protectionist law and is not anything even remotely similar to the disasterous trade laws that were enacted at the start of the great depression to keep products from coming in the country our to keep ours from being sold overseas. There is absolutely no comparison at all and to even make one is ridiculously disingenuous.  The Obama Administration should have said so on the spot and chastised the EU for daring to draw such a clearly bogus equivalency.

The EU is acting like we are locking out foriegn bids on all national infrustructure products and so are some bloggers. The truth is that it is not even that, the rule would just lock them out for the purposes of this one bill and this one sum of money. Comparisons with Smoot-Hawley in the press is unrealistic to put it mildly.

This is about greed, the EU wants a piece of the trillion dollar crap sandwich that Congress is likely to pass. If the Obama administration can’t stand up to the EU on something as clearly wrong at what the EU is trying to do I dare say I fear what will happen with Obama negotiating with Iran.

Any part of a so called American domestic infrastructure and stimulus bill paid for buy our tax payers should not involve giving away the store to the EU. Every dollar given away is one dollar taken out of our hands. This bill has nothing to do with trade at all and Obama should tell the EU that directly.

One Response to “UK: Obama Backing Down on “Buy American Policy” in Stimulus Bill”

  1. ahrcanum said

    Obama should have never let Nancy Pelosi anywhere near the drafting of this bill in the first place. Some things you have to do yourself and he better learn that quickly.

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