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THE PESKY TRUTH
showing how corrupt this nation has become in the last 50 years

NAFTA After 20 Years

How it is destroying our economy.

Submitted by Michael Snyder of The Economic Collapse blog,


Back in the early 1990s, the North American Free Trade Agreement was one of the hottest political issues in the country.  When he was running for president in 1992, Bill Clinton promised that NAFTA would result in an increase in the number of high quality jobs for Americans that it would reduce illegal immigration.  Ross Perot warned that just the opposite would happen.  He warned that if NAFTA was implemented there would be a "giant sucking sound" as thousands of businesses and millions of jobs left this country.  Most Americans chose to believe Bill Clinton.  Well, it is 20 years later and it turns out that Perot was right and Clinton was dead wrong.  But now history is repeating itself, and most Americans don't even realize that it is happening.  As you will read about at the end of this article, Barack Obama has been negotiating a secret trade treaty that is being called "NAFTA on steroids", and if Congress adopts it we could lose millions more good paying jobs.


It amazes me how the American people can fall for the same lies over and over again.  The lies that serial liar Barack Obama is telling about "free trade" and the globalization of the economy are the same lies that Bill Clinton was telling back in the early 1990s.  The following is an excerpt from a recent interview with Paul Craig Roberts...

I remember in the 90′s when former Presidential candidate Ross Perot emphatically stated that NAFTA (North American Free Trade Agreement) would create a giant “sucking sound” of jobs being extracted away from the U.S.  He did not win the election, and NAFTA was instituted on Jan. 1, 1994. Now, 20 years later, we see the result of all the jobs that have been “sucked away” to other countries.
 
According to an article by the Economic Policy Institute on 1/3/14:
 
“Clinton and his collaborators promised that the deal would bring “good-paying American jobs,” a rising trade surplus with Mexico, and a dramatic reduction in illegal immigration. Considering that thousands of kids are pouring over the border as we speak, well, how’d that work out for us?


Many Americans like to remember Bill Clinton as a "great president" for some reason.  Well, it turns out that he was completely and totally wrong about NAFTA.  The following are 20 facts that show how NAFTA is destroying the economy...


#1 More than 845,000 American workers have been officially certified for Trade Adjustment Assistance because they lost their jobs due to imports from Mexico or Canada or because their factories were relocated to those nations.


#2 Overall, it is estimated that NAFTA has cost us well over a million jobs.


#3 U.S. manufacturers pay Mexican workers just a little over a dollar an hour to do jobs that American workers used to do.


#4 The number of illegal immigrants living in the United States has more than doubled since the implementation of NAFTA.


#5 In the year before NAFTA, the U.S. had a trade surplus with Mexico and the trade deficit with Canada was only 29.6 billion dollars.  Last year, the U.S. had a combined trade deficit with Mexico and Canada of 177 billion dollars.


#6 It has been estimated that the U.S. economy loses approximately 9,000 jobs for every 1 billion dollars of goods that are imported from overseas.


#7 One professor has estimated that cutting the total U.S. trade deficit in half would create 5 million more jobs in the United States.


#8 Since the auto industry bailout, approximately 70 percent of all GM vehicles have been built outside the United States.  In fact, many of them are now being built in Mexico.


#9 NAFTA hasn't worked out very well for Mexico either.  Since 1994, the average yearly rate of economic growth in Mexico has been less than one percent.


#10 The exporting of massive amounts of government-subsidized U.S. corn down into Mexico has destroyed more than a million Mexican jobs and has helped fuel the continual rise in the number of illegal immigrants coming north.


#11 Someone making minimum wage in Mexico today can buy 38 percent fewer consumer goods than the day before NAFTA went into effect.


#12 Overall, the United States has lost a total of more than 56,000 manufacturing facilities since 2001.


#13 Back in the 1980s, more than 20 percent of the jobs in the United States were manufacturing jobs.  Today, only about 9 percent of the jobs in the United States are manufacturing jobs.


#14 We have fewer Americans working in manufacturing today than we did in 1950 even though our population has more than doubled since then.


#15 Back in 1950, more than 80 percent of all men in the United States had jobs.  Today, only 65 percent of all men in the United States have jobs.


#16 As I wrote about recently, one out of every six men in their prime working years (25 to 54) do not have a job at this point.


#17 Because we have shipped millions of jobs overseas, the competition for the jobs that remain has become extremely intense and this has put downward pressure on wages.  Right now, half the country makes $27,520 a year or less from their jobs.


#18 When adults cannot get decent jobs, it is often children that suffer the most.  It is hard to believe, but more than one out of every five children in the United States is living in poverty in 2014.


#19 In 1994, only 27 million Americans were on food stamps.  Today, more than 46 million Americans are on food stamps.


#20 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.

 

 

 

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Last Updated:
March 29, 2015 8:41 AM

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