Feb 6, 2012
President Obama used his State of the Union Address to signal the Democratic Party’s slogans for this year’s election campaigns, including his own re-election.
In the speech, Obama promised to “bring manufacturing back,” and with it manufacturing jobs from overseas.
But here’s what the chief economist of Comerica Bank headquartered in Detroit, Michigan, the auto industry’s center, said: “Manufacturing is a productivity-driven industry and that fundamental force will reassert itself, leading to flat or even declining manufacturing employment even as output increases.”
The economist remains reality-based, since he is not running for re-election this year. It was not jobs sent overseas that cut manufacturing employment. It was the push for productivity – speed-up – right here in this country.
Stop the speed-up.