Paul Krugman recently lamented the fact that in recent years, “manufacturing, once America’s greatest strength, seemed to be in terminal decline.” His analysis, though, misses the mark. He reached this conclusion because “in the 1990s, U.S. manufacturing employment was more or less steady. After 2000, however, it entered a steep decline. The 2001 recession hit industry hard, while the bubble-fueled expansion of the decade’s middle years — an expansion marked by a huge rise in the trade deficit — left manufacturing behind. By December 2007, there were 3.5 million fewer …
House Analysis – All eyes are on the Senate next week as they continue their work in committee on health care and cap and trade. The House is expected to have a light legislative week once again with no votes on Monday. The House will continue to try and wrap up several appropriations bills including Agriculture and Homeland Security. One semi-controversial bill, HR 2442, expected to be voted on next week would fund $32.2 million to the San Francisco Bay Area for six water recycling programs. Critics charge this ignores …
