The economy is shaping up to be the focal point of the 2012 election. Federal government efforts to jumpstart the economy started at the end of the Bush administration, and many of the same policies continued in the Obama administration, which also added a multi-billion dollar package of tax cuts and stimulus spending. Senior Fellow Martin Baily and Campaign 2012 Project Director Benjamin Wittes discuss Obama’s policies, whether they worked, what could have been done differently, and what Mitt Romney might do differently, if he wins the race.
If we [the United States] have less access to these [international] markets, we're going to have fewer opportunities to create jobs in the export sector. Also, if we decide to tax imports, there are a lot of people in this country dependent on imports and we're also going to see people lose their jobs.
The jobs China is accused of stealing, many were lost a long time ago to Korea or Japan and moved from there to China. A lot of that job loss occurred because of technology change. [And despite Trump's promises to bring jobs back to the US,] nobody in the US would do them at the wages companies would want to charge. Those jobs are never going to be gotten back.