Gregory Mankiw of Bush Administration still insists Free Trade=Good Jobs

[Eric J in MN]

Last week, Gregory Mankiw's report that sending jobs overseas is good for the US economy created a controversy.

He hasn't changed his mind, though. He's still saying that, in a speech he made today just broadcast on C-Span.

He says that job-losses are painful, but the Bush Administration will offer re-training. He says that while some may ask, "For what jobs?" that is up to the market.

On another topic, Manikow was asked how Bush can promise to cut the budget deficit in half within five years while saying his tax-cuts should be permanent.

Maniknow said by showing the great fiscal discipline Bush is showing by threatening to veto the highway bill.

(The highway bill has more than 2/3 votes, so a veto would be symbolic. The costs of the bill would be real, whether or not it's a good bill).

[bluestateguy]

1. Oh, oh, oh! I'd LOVE to have this debate in the campaign.

However much sense his ideas might make in the closed cultures of academic conferences and cocktail parties in gated communities his arguments will never resonate with working people. Bring it on!!

[aquart]

2. To make it worse, this idiot wrote a standard textbook.

We're teaching his nonsense to the next generation.