The Downward Sprial of the United States Economy

Good Essays
The Downward Spiral of the United States Economy In the world to date, there seems to be an increase of world governments needing bailouts, and people of the world needing assistance from the United States. This idea has caused many Americans to come to the conclusion that if the United States closed off borders to foreign trade, it would increase it’s standard of living and make America more profitable. However, this idea is false. The United States must not close off it’s borders to foreign trade because if trade borders were to close, American manufacturing plants would begin to shut down, the American transportation system and public services would suffer resulting in American job loss. If the US closes off borders to foreign trade, manufacturing companies would feel a financial strain, causing potential job loss. Manufacturing companies in the US rely on profits from selling products in foreign markets and on many foreign goods to assemble those products. If businesses are not able to import their needed materials, then they would not be able to produce the products, both wanted and needed by both Americans and foreign buyers. Job loss would be inevitable and lead to many of the same problems seen today but on a grander scale. Job loss, homes in foreclosure, and the people who still have jobs would be living from paycheck to paycheck. If manufacturing were to halt nationwide, nearly everyone would feel the financial strain, even the ones who do not feel it now. Manufacturing companies stores would have a decrease in the products they supply, and the products still available would be much more expensive. Closing the borders to international trade will cause financial strain and job losses in the manufacturing sector. If the... ... middle of paper ... ...arriers America would see an increase in profit by another fifty percent (United “Economy”). So instead of closing international trade borders, Americans should be thinking about the positive aspects of foreign trade. Americans need to realize how important importation is to the national economy and that without it the United States would not be the great country that it is today. Works Cited “ASCE Assesses Infrastructure Crisis.” Professional safety 52.11 (2007): 6-. ProQuest Research Library. Web. 1 Nov. 2011. Lugar, Dick. “The Story of Oil: Top 10 Questions about the History, Development, and Problems of Oil.” n.d. Web. 25 Oct. 2011. United States. Energy Information Administration. “25th Anniversary of the 1973 Oil embargo.” 7 Mar 2000. Web. 1 Nov 2011. - - -. Office of the United States Trade Representative. “Economy and Trade.” n.d. web. 25 Oct. 2011.
Get Access