How Quickly Americans Forget the Greatest Economy in Modern History: Bill Clinton and NAFTA
Op-ed by TheWiseOldFart
On June 17, 1930, President Herbert Hoover signed the Smoot-Hawley
Tariff Act. Approved by both houses of Congress, the bill’s intent was to
lessen the harm caused by the Great Depression of 1929. Although America’s
leading economists opposed the bill, an incompetent group of politicians
ignored their warnings and sent it to President Hoover for his signature.
Needless to say, it was a disaster.
Not a single reputable economist has ever sanctioned the
establishment of tariffs on imports as a constructive effort to grow the
economy.
What works are free trade agreements between various
nations.
[In his final weeks in office, Republican President George
H. W. Bush signed the agreement on December 17, 1992. The House and Senate
approved NAFTA less than a year later in a bipartisan fashion with Democrat
President Bill Clinton signing the Implementation Act in December 1993.]
Prior to Trump, a phrase likely to be used by historians
when referring to the failures of the worst president in history and his
foolhardy fiscal policies, including ill-advised tariffs, America’s economy was
flourishing thanks to Free Trade Agreements with at least 20 nations.
Facts prove that America’s economy was the greatest in
modern history under the Clinton Administration. The second period of time when
America’s economy flourished was under President Joe Biden between 2021 and
2025. Our corrupt government and the mainstream continue to hide the truth.
Trump is once again defiling our country’s White House.
Inflation, more accurately, “Greedflation,” remains our nation’s greatest
problem. Using the tactics of a schoolyard bully, Trump has placed tariffs on
imports from nearly every nation in the world. The negative effects are just
beginning.
Apparently, Trump’s ignorance about how to effectively grow
a nation’s economy fails to understand that American consumers pay the
additional costs created by tariffs, not other nations. Or maybe he just doesn’t
care.
Bad choices during our working years have forced my wife and
I to survive on our contributions to Social Security, each of us for more than
40 years. Our grocery bills are nearly 60 percent higher than they were several
years ago. We have streamlined our necessary expenses as much as possible.
However, we live month to month and any unexpected major expense of just a few
thousand dollars could result in our becoming members of America’s homeless. We
are not alone.
Meanwhile, Trump is spending at least 10 million dollars of
taxpayer money each month to live the life of a legitimate billionaire. He
golfs incessantly, parties at Mar-a-Lago, and travels to his resorts at will.
Just a couple of weeks ago Trump enjoyed a golf excursion disguised as a trip
focused on the business interests of our country. That single trip stole more
than ten million dollars from the national treasury. One example: the use of
Air Force One is about $270,000 per hour.
Fact: Free Trade Agreements benefit all nations involved,
and result in lower costs for consumers. Tariffs harm consumers. President “Dumbass”
is the worst thing to happen to America in its 249 years. If you lost your healthcare
or are struggling to survive, and you voted for Trump or chose not to vote at
all, you only have yourself to blame.
Op-ed by James Turnage
Follow my blog and be informed
Sources: https://www.cato.org/publications/how-trade-agreements-have-enhanced-freedom-prosperity-americans
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