February 10, 2004
Losing Your Job Overseas is Good for You

The movement of American factory jobs and white-collar work to other countries is part of a positive transformation that will enrich the U.S. economy over time, even if it causes short-term pain and dislocation, the Bush administration said yesterday.

"Outsourcing is just a new way of doing international trade," said N. Gregory Mankiw, chairman of Bush's Council of Economic Advisors, which prepared the report. "More things are tradable than were tradable in the past. And that's a good thing."

"I've got a feeling this report was prepared by the same people who brought us the intelligence on Iraq,"


Campaigning yesterday in Roanoke, Va., Sen. John Kerry of Massachusetts, the front-runner for the Democratic presidential nomination, questioned the credibility of the job-creation forecast.

"I've got a feeling this report was prepared by the same people who brought us the intelligence on Iraq," he said. "I don't think we need a new report about jobs in America. I think we need a new president who's going to create jobs in America."

From the Seattle Times

Posted by tstubbs at February 10, 2004 09:36 AM
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