IMPORTING RUINING OUR
COUNTRY
BY: Haley Breen
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Haley Breen
Microeconomics
Professor Copeland
22 November 2015
Importing Ruining our Economy
Ever since the Great Recession in the United States, our country has struggled to
get back to a stable economic state. This was a very big setback for our countries
economy and it is going to take a lot to get our economy back to a good place. One of
the major problems in our economy is that we import most of our goods and do not
produce them in our own country. We encourage companies in our country to
manufacture and produce goods in other foreign countries. Companies choose to
manufacture in foreign countries because it is cheaper. These companies should be
moving manufacturing to the United States and employing Americans. Producing more
goods in our own country will help to boost our economy and create many more jobs for
Americans.
We have a very large gap between how much we import and how much we
export. We import way more than we export, which is not helping our countries
economy. The trade deficit keeps growing because the imports are rising faster than
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exports. According to About New, “The United States imports consumer electronics,
clothing and machinery from China. A lot of the imports are from U.S.-based companies
that send raw materials to China for cheap assembly”(AboutNews.com). We import a
wide variety of goods which keeps leading us further and further into the deficit. It also
affect the employment in our country, “U.S. manufacturing, as measured by the
number of jobs, declined 34% between 1998 and 2010”(Aboutnews.com). 34% is a
drastic number and it is negatively a9ecting our economy because unemployment is
rising which means that consumers spend less so money does not circulate and benefit
the economy as much as when our employment rate is high. According to CBS News,
“U.S. multinationals slashed their domestic workforce by 1.9 million, while increasing
overseas employment by 2.4 million, economist Martin Sullivan has shown. And it’s not
only about wages. The U.S. has lost more manufacturing jobs since 2000 than several
countries that pay their workers more, including Australia, France, Germany, and
Sweden. Nor is it only about manufacturing. The number of financial services, IT, HR, and
other white-collar jobs lost to o9shoring has risen since the financial crisis” (CBS News).
If we keep up this rate of giving our jobs to other countries we will soon have an
