The Washington Post has a detailed report on protectionist language in the Democrat’s pork laden stimulus bill that could trigger a trade war:
The stimulus bill passed by the House last night contains a controversial provision that would mostly bar foreign steel and iron from the infrastructure projects laid out by the $819 billion economic package.
A Senate version, yet to be acted upon, goes further, requiring, with few exceptions, that all stimulus-funded projects use only American-made equipment and goods.
Proponents of expanding the “Buy American” provisions enacted during the Great Depression, including steel and iron manufacturers and labor unions, argue that it is the only way to ensure that the stimulus creates jobs at home and not overseas.
Opponents, including some of the biggest blue-chip names in American industry, say it amounts to a declaration of war against free trade. That, they say, could spark retaliation from abroad against U.S. companies and exacerbate the global financial crisis.
The provisions also confront President Obama with his first test on trade policy. He must weigh the potential consequences of U.S. protectionism against the appealing slogan of “Buy American” and the jobs argument.
The administration has not addressed the issue publicly, and sources close to the issue said it appears that a response is still being formulated.
Sweet Jesus, these idiots are dangerous… Never mind the long-term damage that this pork laden train wreck of a spending bill could do to the American economy, the protectionist language in this thing could trigger trade war that would bring the global economy crashing down too.
By loading the stimulus bill with “Buy American” clauses that will shut out foreign producers of steel and iron Democratic protectionists have esscentially recreated the Smoot-Hawley Tariff Act that helped set the stage for the Great Depression.