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Health & Fitness

America: Time to Save Our Sinking Ship!

America: Time to Save Our Sinking Ship!

By Kenneth N. Davis (Guest Author)

This article originally appeared in Economy in Crisis.

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I read with great interest the six editorials by Thomas Heffner between July 11th and the 17th, starting with: “War Declared Against America” and finishing with: “A Sinking Ship – Full Speed Ahead!.” All of them were great – a strong “Wake Up!” call. Every American should see them!

I especially noted the emphasis on our failure to stop the huge, ever-increasing flow of imports into America. The author is right that imports have been the single most damaging blow to our domestic industrial base that we rely on for national security and income as well as for a strong economy and good jobs.

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My group, Balanced Trade Associates, believes we have a bold, realistic plan to deal with the import problem. It could eliminate our 700+ billion dollar annual trade deficits within 3 years. Our law would also require 3 years of modest 10% annual reductions in our imports that now run at 2.1 trillion dollars. The answer is our proposed new legislation: The Balanced Trade Restoration Act.

With it, the U.S. would restore our practice of maintaining modest annual trade surpluses with the rest of the world. Unlike most competitor nations, we abandoned that sound policy to emphasize globalization in the late 1960’s.

The time for action is now. We are talking to co-sponsors and members of Congress now. Mr Heffner is right – we are on a sinking ship, but we can still save our country if we act now!

Kenneth N. Davis is the Executive Director of Balanced Trade Associates.  He is a former US Asst. Secretary of Commerce and a former VP-CFO of IBM Inc.

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