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Highlands Today
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Misleading statements
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Published: June 17, 2009
Jim Rahenkamp postulates that "the silver tongued Pied Piper of Change" has led us down the slope so far and with such momentum that we have reached the point of no return. He states, "Capitalism requires that production must exceed consumption" and "We no longer export more than we import." I assume this was meant to imply that this condition has come about during the less than six months that President Obama has been in office.
Beginning in 1973, the United States began to import more than we exported. I would suggest you research import, export tables and trade deficit history of our country before you make misleading statements.
Further, the reason China, India and other nations are holding so much of our debt is because of the imbalance of trade, brought about by outsourcing manufacturing and financial services to these countries over a period of 30-40 years.
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