We Need Manufacturing Back in America

[Holden McGroin]

The United States remains the world's top manufacturing country, its factories producing goods worth $1.49 trillion in 2005, 1.5 times the level in the next country, Japan. And the value of U.S. agricultural production trails that of only China and India.

Even though agriculture now has a small share of GDP, farmers remain economically and politically powerful forces. In 2002 the market value of U.S. farm production amounted to more than $200 billion, including $45 billion for cattle and calves; nearly $40 billion for grains, such as corn and wheat, and oilseeds such as soybeans; nearly $24 billion for poultry and eggs; $20 billion for milk and other dairy products; and $12 billion for hogs and pigs.

Even though the United States has more than 2 million farms, a relatively tiny number of big corporate farms dominate—1.6 percent of farms in 2002 accounted for half of all sales.

Despite its overall trade deficit, the United States has a surplus in agriculture. U.S. farm exports in 2007 are forecast at $78 billion, with the largest share going to Asian countries, although Canada and Mexico account for the largest share of recent growth in agricultural exports. About one-fourth of U.S. farm output is exported.

While the United States maintains a trade surplus in services, it runs a large deficit in merchandise goods trade.

The United States also maintains a trade surplus in services, $79.7 billion in 2006. The biggest U.S. services export category was travel by foreigners to the United States, $85.8 billion that year.

In contrast, the United States runs a large and growing deficit in merchandise goods trade.  While the United States exported more than $1 trillion in goods in 2006, it imported more than $1.8 trillion worth.

By far the top imports that year were autos and auto parts, $211.9 billion, and crude oil, $225.2 billion. The top sources of U.S. imports were Canada, China, Mexico, Japan, and Germany.  

source

[MiloMorai]

Despite its overall trade deficit, the United States has a surplus in agriculture.

Helped by large farm subsidies.

[Holden McGroin]

Originally posted by MiloMorai
Helped by large farm subsidies.

If that is the case, perhaps we should subsidise domestic oil production.

[lazs2]

damn... excel... that was right on the mark!

I also fail to see the problem with holdens logic in that we should subsidize domestic oil production if farm subsidies are working so good.

Fact is.. quit subsidizing farming and it will do just fine.... take the restrictions off the oil companies for exploration and development of oil and they will do fine.

Instead... now people want to subsidize bio fuels and solar and wind and anything that comes down the pike.

If it is evil to subsidize one thing then it is evil to subsidize anything.

lazs