On the back of this industrial output, rose America’s middle class. High-paying manufacturing jobs in turn helped spur a robust and growing economy that had little dependence on foreign nations for manufactured goods and armaments...However, manufacturing, as a share of the economy, has been plummeting. In 1965, manufacturing accounted for 53 percent of the economy. By 1988 it only accounted for 39 percent of the economy, and in 2004, it accounted for just 9 percent...The loss of the manufacturing industry manifests itself most clearly in job losses. - The Trumpet
The wing-nut shell game continues as they on the one hand decry the loss of jobs and the high unemployment figures and yet at the same time were the architects of the policies that gutted the manufacturing sector which drove the job creation. The unfortunate truth that the politicians, pundits, and CEO’s refuse to tell the American public is that unless we retool our manufacturing base we will continue to have high unemployment. The current and future high unemployment numbers are not solely based on the recession. Prior to the recession we were seeing unemployment rising as the economy was supposedly humming along.
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