Topic > The Downward Spiral of the US Economy

The Downward Spiral of the US Economy In the world to date, there appears to be an increase in world governments needing bailouts and the world's people needing assistance from part of the United States. This idea has led many Americans to conclude that if the United States closed its borders to foreign trade, it would raise their standard of living and make America more profitable. However, this idea is false. The United States must not close its borders to foreign trade because if trade borders were to close, American manufacturing plants would begin to close, the American transportation system and public services would suffer resulting in the loss of American jobs. to foreign trade, manufacturing companies would feel financial strain, resulting in potential job losses. Manufacturing companies in the United States rely on profits from selling products in foreign markets and on many foreign goods to assemble those products. If companies were unable to import the necessary materials, they would not be able to produce the products wanted and needed by both Americans and foreign buyers. Job losses would be inevitable and would lead to many of the same problems seen today, but on a larger scale. Job losses, foreclosed homes, and people who still have jobs would be living paycheck to paycheck. If production were to halt nationwide, nearly everyone would feel the financial strain, even those who aren't feeling it now. Manufacturing company stores would see a decrease in products supplied and the products still available would be much more expensive. Closing borders to international trade will cause financial strains and job losses in the manufacturing sector. If….. Economy"). So, instead of closing the borders of international trade, Americans should think about the positive aspects of foreign trade. Americans must realize how important imports are to the national economy and that without they the United States would not be the great country it is today. Works Cited “ASCE Evaluates the Infrastructure Crisis.” Lugar, Dick. The Story of Oil: Top 10 Questions About Oil History, Development, and Problems." nd Web. October 25, 2011. United States. Energy Information Administration. “25th Anniversary of the 1973 Oil Embargo.” 7 March 2000. Web. 1 Nov. 2011. - - -. Office of the United States Trade Representative. 2011.