Obama And Romney Both Favor A One World Economic System That Kills American JobsMichael Snyder, Contributor Barack Obama and Mitt Romney have both participated in the outsourcing of American jobs, and both are openly admitting to the American people that they favor the emerging one world economic system which will continue to destroy millions of American jobs. In fact, they argue with each other about which of them will be more aggressive in pursuing more free trade agreements over the next four years. Unfortunately, the free trade agreements that the U.S. government enters into are never fair trade agreements. As a result, over the past decade we have lost tens of thousands of businesses, millions of jobs and trillions of dollars of national wealth. This year alone, we will buy about half a trillion dollars more stuff from the rest of the world than they will buy from us. This trade deficit will be about 7 times larger than the trade deficit of any other nation on earth. Our economy will continue to bleed jobs at a horrifying pace, but Obama and Romney insist that the answer to our problems is even more free trade. What makes all of this even more dreadful is that most Americans continue to fall for this nonsense. It doesnt take a genius to figure out that merging our labor pool with the labor pools of nations where it is legal to pay slave labor wages was going to kill American jobs and drive down wages for the jobs that remain in the United States. But why does that have to be so? Why cant those jobs come back to America? It seems to me that if you cracked down on nations that are cheating such as China, imposed a system of common sense tariffs and cut the corporate tax rate to a level more consistent with the rest of the world that you could get a lot of those jobs flooding back in by the end of next year. But Obama is so blinded by his faith in the emerging one world economy that such measures are unimaginable to him. In recent years, the Obama administration has entered into new free trade agreements with Panama, South Korea and Colombia. In addition, the Obama administration is making the Trans-Pacific Partnership (the NAFTA of the Pacific) a very high priority. Considering what a nightmare the first NAFTA was, do we really need another one? The Trans-Pacific Partnershipis a treaty that would essentially ban all Buy American laws. It is being touted as one of the most comprehensive free trade agreements in history, and it would open up the door for millions more good jobs to be shipped out of the country. The workers of America simply cannot afford another four years of Barack Obama. In fact, the Obama administration has actually spent billions of taxpayer dollars to create jobs in other countries. The following is from a pro-Republican website You can get all the details right here. Needless to say, the Obama administration has been an absolute disaster on these issues. So would Romney be an improvement when it comes to trade? That is very doubtful. The truth is that Mitt Romney was involved in outsourcing jobs while he was at Bain Capital. The following is from a recent article posted on Forbes.com Since Romney left, Bain Capital has become even more aggressive with outsourcing jobs. In fact, Bain Capital has been forcing American workers to train their Chinese replacements even in the midst of this campaign. Arent they concerned that they are making their former boss look bad? The following is from an article written by an American worker that is having his job shipped to China by Bain Capital All of this outsourcing is killing America. Back in 1950, the population of this country was less than half of what it is now, and yet there were more Americans working in manufacturing back in 1950 than there are today. The decline in manufacturing jobs in the United States has been really dramatic since the year 2000. I think that it is interesting to note that China joined the WTO in 2001. Since that time we have been losing jobs to them at an astounding pace. According to a new report by the Economic Policy Institute, U.S. trade with China cost more than 2.7 million jobs between 2001 and 2011. The Chinese slap huge tariffs on many of our goods, they manipulate currency rates to make sure that U.S. companies cannot compete, they steal our intellectual property and they deeply subsidize their own businesses. And yet Obama and Romney insist that this is free trade. What a joke. And our tax structure is absolutely killing us as well. The following is from a recent article by Ernest F. Hollings Are you starting to get the picture? Our trade policy is a complete and total disaster, and yet Obama and Romney continue to insist that we just need to become even more integrated with the emerging one world economic system. Well, in a previous article I listed 22 statistics which prove that the current path that we are on has been absolutely disastrous for American workers #1 One professor has estimated that cutting the U.S. trade deficit in half would create 5 million more jobs in the United States. #2 The United States has a trade imbalance that is more than 7 times larger than any other nation on earth has. #3 Overall, the United States has run a trade deficit of more than 8 trillion dollars with the rest of the globe since 1975. That 8 trillion dollars could have gone to support U.S. businesses and pay the wages of U.S. workers. Federal, state and local taxes would have been paid on that 8 trillion dollars if it had stayed in the United States. #4 When NAFTA was passed in 1993, the United States had a trade surplus with Mexico of 1.6 billion dollars. In 2010, we had a trade deficit with Mexico of 61.6 billion dollars. #5 In 2001, American consumers spent 102 billion dollars on products made in China. In 2011, American consumers spent 399 billion dollars on products made in China. #6 The Chinese undervalue their currency by about 40 percent in order to gain a critical advantage over foreign competitors. This means that many Chinese companies are able to absolutely thrive while their competition in the United States goes out of business. The following is from a recent Fox News article. #7 According to the New York Times, a Jeep Grand Cherokee that costs $27,490 in the United States costs about $85,000 in China thanks to all the tariffs. #8 The U.S. trade deficit with China during 2011 was 295.4 billion dollars. That was the largest trade deficit that one nation has had with another nation in the history of the world. #9 Back in 1985, our trade deficit with China was only about 6 million dollars (million with an m) for the entire year. #10 U.S. consumers spend about 4 dollars on goods and services from China for every one dollar that Chinese consumers spend on goods and services from the United States. #11 The United States has actually lost an average of about 50,000 manufacturing jobs a month since China joined the World Trade Organization in 2001. #12 According to the Economic Policy Institute, America is losing about half a million jobs to China every single year. #13 The United States has lost more than 56,000 manufacturing facilities since 2001. #14 During 2010 alone, an average of 23 manufacturing facilities closed their doors in America every single day. #15 Since the auto industry bailout, approximately 70 percent of all GM vehicles have been built outside the United States. #16 As I have written about previously, 95 percent of the jobs lost during the last recession were middle class jobs. #17 According to Professor Alan Blinder of Princeton University, 40 million more U.S. jobs could be sent offshore over the next two decades if current trends continue. #18 The percentage of working age Americans that are employed right now is actually smaller than it was at the end of the last recession. #19 The average duration of unemployment in the United States is nearly three times as long as it was back in the year 2000. #20 Due in part to the globalization of the labor pool, only about 24 percent of all jobs in the United States are good jobs at this point. #21 Without enough good jobs, more Americans than ever before are falling into poverty. Today, more than 100 million Americans are on welfare. #22 In recent years the U.S. economy has embraced free trade and the emerging one world economy like never before. Instead of increasing the number of jobs in our economy, it has resulted in the worst stretch of job creation in the United States in modern history. At this point, more than 41 percent of all working age Americans do not have a job, and the vast majority of the new jobs that are being created are low paying jobs. One recent survey found that about 40 percent of all Americans have $500 or less in savings. We are a country that is full of broke people. What we need are more good jobs. But Obama and Romney are both determined to keep shipping good jobs out of the country. The path that we are on will only lead to disaster. Please wake up America. This article first appeared here at the Economic Collapse. Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream and Economic Collapse Blog. Follow him on Twitter here. 