High paying manufacturing jobs are being sent overseas in the name of “Free Trade” and so-called globalization. This is nothing more than an effort to use slave labor to destroy the American middle-class working family—driving them into debt and poverty while the rich get richer at their expense.

Free Trade and globalization are destroying the American economy and job opportunity for American workers and their families.

Your National Business Association has been warning for 23 years about the dangers of Free Trade and globalization. The NBA has fought these job-destroying Free Trade deals that hurt American workers and the American economy.

The American dollar is dying. Our political leaders have produced an economic situation where we can’t defend the dollar. We cannot protect the value of the savings and income of the American people. Our political leaders refuse to stop America from becoming a poorer nation. Their free-trade, globalization policies are to blame. America will not be healed economically until these disastrous policies are reversed. The American middle class didn’t re-elect President Bush so he could destroy the dollar!

The free trade-globalization chickens are coming home to roost! Even the free-trade-promoting Wall Street Journal has begun to see the risk of financial ruin!

What are the causes of the American financial crisis?

First is the U.S. budget deficit! Four years ago we had a balanced budget. It has now been wasted in order to give the rich a tax cut, which small business and workers will pay for with increased taxes if the White House has its way.

The budget deficit has been largely financed by foreigners, especially Chinese and Japanese who buy U.S. bonds and T bills and collect scores of billions of dollars in annual interest payments from American tax payers.

Second is the trade deficit which is approximately $700 billion this year. U.S. companies are closing factories here left and right while shedding American workers to relocate their plants in Asia.

Third cause of the dollar decline is the Federal Reserve has been running a loose monetary policy. The Fed is in charge of the money supply and is thus responsible for the declining value of the dollar which means Americans will not be able to afford the world’s goods upon which we have become dependent due to the globalization policies of Bush I and II and Clinton.

As a result of the highest fiscal deficit and trade deficit in history, the leading economic indicators have fallen now for five months. The deficit continues to grow since the President has not vetoed a single spending bill!

Our political leaders are a failure. They have led us into a financial crisis that threatens everyone except the rich. There does appear to be a growing recognition of the failed political leadership that has put America into financial and economic decline. Leadership in Washington has produced the prospect of endless deficits, a dying dollar, constant hemorrhaging of manufacturing jobs and high-tech jobs to Asia, and growing dependency on imports for vital necessities of our national life.

The failed political leadership does not seem to care about the decline and destruction they are producing for American workers, families, and children. It is astounding that the White House and Washington politicians seem neither to have the will nor vision to stop the inexorable decline our country is experiencing.

Free-trade globalization now appears to have run its course of economic destruction producing an unending decline for the citizens of America. The White House can negotiate all the free-trade, globalist trade deals it wants, but they will only accelerate the American dollar decline.

My prayer is that American economic patriotism will return so the American economic decline will be stopped and reversed.

“America is not #1 in anything anymore having been replaced by China and other nations” (Discover Magazine).