Thursday, January 29, 2009

Second example of protectionism from Democrats in 9 days

Barack Obama took office on January 20 and we have had two instances of protectionist action already. First was Geithner's China currency manipulation comments, and now legislation mandating steel used in infrastructure spending be made in the U.S. I undeerstand the motivations behind these moves but they are playing with fire. Mr. Smoot and Mr.Hawley thought they were being reasonable too. Obama better find a waay to get real leadership in Congress because Pelosi and Reid are hacks that will hold President Obama down like anchors.

From Reuters:
U.S. House approves 'Buy America' steel measure

WASHINGTON, Jan 28 (Reuters) - The U.S. House of Representatives
on Wednesday approved a controversial "Buy
America" steel provision as part of an $825 billion package
to help pull the U.S. economy out of recession. The provision
requires public works projects funded by the bill to use
only U.S.-made iron and steel.
House leaders included the language despite strong objections
from the U.S. Chamber of Commerce and other business
groups which said it would set a bad example for
other countries considering their own economic stimulus
plans.

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