Tax China, Not Us

Despair grips the nation, as nearly 15 million are counted as jobless and many more languish in part-time employment. Free trade with China, flawed energy policies and pandering to Wall Street are destroying American prosperity. Retail sales may be up and businesses are replacing trucks, computers and critical equipment -- but too much is spent on imports. In the second quarter, imports grew so much more rapidly than exports that the trade gap subtracted 3.5% from the demand for U.S. made goods and services. But for the trade deficit, GDP would have been up 5.2% instead of a paltry 1.7% . At the former pace, unemployment would fall to 5% by 2014. Oil and China account for nearly the entire trade deficit, and without dramatic changes in policy, unemployment will stay near or above 10% indefinitely.

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