Rep. Erik Paulsen (MN) published a guest post on the Foundry blog today. Please see the following excerpt:
The government is spending hundreds of billions of taxpayer dollars attempting to stimulate the economy, but it’s clear these spending programs are not achieving the results we need. Instead, the economy continues to shed jobs. Unemployment figures released last week show U.S. unemployment reaching a 26-year high of 9.8 percent.
Instead of putting Americans back to work, Congress is simply putting heavier burdens on taxpayers, while driving the country deeper into debt. In short, the current approach is not working. There is another approach to stimulating the economy – a proven method to increase prosperity, grow our economy and create jobs: expansion of free trade.
Free trade is a proven stimulus. According to a Peterson Institute study, the average American household is about $9,000 per year richer as a result of the country’s integration with the world economy since World War II. Furthermore, if the world’s remaining barriers to trade and investment were to fall, global trade would add another $500 billion to domestic wealth creation each year. That’s $500 billion in economic stimulus per year without adding to our national deficit.