Renewed concerns in the news today about buy American provision added to the bailout plan. The house has already approved it, and the senate is considering a buy American provision that applies to “all manufactured goods.”
At least someone–the US Camber of Commerce in this case–is speaking up against the protectionist policies.
“Such provisions would cost American jobs, trigger retaliation from our trading partners, slow economic recovery by delaying shovel-ready infrastructure projects and cede our leadership role as a long-standing proponent of free and fair trade and global engagement.”
The questions I struggle with: Are US congressmen really stupid enough to believe protectionism will help the recovery? Or are they simply being pragmatic politicians and bowing to the wishes of their constituents?
Either way, the answer implies that the American brand of democracy is not working very well.