WASHINGTON (AP) — Democrats and Republicans don’t agree on much, but they share a conviction that the government should help American manufacturers, one way or another.
Democratic President Joe Biden handed out subsidies to chipmakers and electric vehicle manufacturers. Republican President Donald Trump is building a wall of import taxes — tariffs — around the U.S. economy to protect domestic industry from foreign competition.
Yet American manufacturing has been stuck in a rut for nearly three years. And it remains to be seen whether the trend will reverse itself.
The U.S. Labor Department reports that American factories shed 7,000 jobs in June for the second month in a row. Manufacturing employment is on track to drop for the third straight year.
“…total goods consumed has to e down at this point”, is the problem. People just do less; it’s also vicious circle. Once housing and food are paid, very little is left. Manufacturing slides, and everyone wants to be a landlord. Increasing the cost of housing. With people buying fewer things, their is less choice. A couple of big monopolies take over the few remaining industries, and over even less choice, as they make cuts. Without disposable time/income, people join fewer clubs, and have fewer hobbies. Wood working, pottery, all cost a fortune.