…it isn’t nearly as dangerous as another Smoot-Hawley.
Ok, class…time to reach back and remember your American History. Don’t want to? Ok, let me help.
Now, I know we all absolutely despise all the pork and misspending within the Stimulus Shit Sandwich Act of 2009, but it turns out there is something even more dangerous to our economy within those pages. Pardon me, shitpages.
The stimulus bill passed by the House last night contains a controversial provision that would mostly bar foreign steel and iron from the infrastructure projects laid out by the $819 billion economic package.
A Senate version, yet to be acted upon, goes further, requiring, with few exceptions, that all stimulus-funded projects use only American-made equipment and goods.
Proponents of expanding the “Buy American” provisions enacted during the Great Depression, including steel and iron manufacturers and labor unions, argue that it is the only way to ensure that the stimulus creates jobs at home and not overseas.
Opponents, including some of the biggest blue-chip names in American industry, say it amounts to a declaration of war against free trade. That, they say, could spark retaliation from abroad against U.S. companies and exacerbate the global financial crisis.
And who do we have to thank for this? None other than our very own Ohio Senator…Sherrod Brown.
The current version of the Senate bill contains no such restrictions, but senators such as Sherrod Brown from Ohio are pushing for spending to be kept at home.
“Buy America provisions will ensure that US taxpayer dollars go toward the creation of US jobs,” Mr Brown said on Wednesday.
The good news? The latest Rasmussen poll shows the tide turning against the stimulus.