Obama "Fast Tracks" Offshore Outsourcing

Remember all of that rhetoric on the campaign trail about outsourcing and trade agreements?

Guess what the Obama administration is doing? Fast Tracking Trade with the most common landing place for your job, India.

The United States has announced a new programme to fast-track high-technology trade with India from which General Electric's India division will be the first Indian company to benefit.

"This is an important step in enabling a more rapid and efficient flow of sensitive technology between India and the United States," US Secretary of Commerce Gary Locke announced at the US-India Business Council's 34th Anniversary "Synergies Summit" Wednesday.

"This is an important step in enabling a more rapid and efficient flow of sensitive technology between India and the United States," Locke said.

China! - Keep Buying Our Debt!

What kind of policy is this one? We beg China to buy our debt while corporations offshore outsource manufacturing and our jobs to China?

From voice of America:

The top U.S. diplomat says Washington must incur more debt to China to boost the ailing U.S. economy and stimulate demand for Chinese products. She says it would not be in China's interest if the U.S. is unable to get its economy out of a recession.

China is the largest holder of U.S. Treasury bonds. Clinton says China's continued investment in U.S. Treasuries is a recognition of the interconnection of the U.S. and Chinese economies.

Chinese Foreign Minister Yang Jiechi told Clinton Saturday that both countries should boost economic policy coordination and reject protectionism in trade.

Obama Channels Clinton on Economic Plans

Obama is releasing new plans on the economy and one is to have a foreclosure freeze.

He also wants to give a $3000 dollar tax credit to every job created in the United States and of course that question begs to ask are those jobs required to go to US citizens and Green Card holders or can corporations import their foreign cheaper labor?

Democrat Barack Obama is proposing lifting penalties for withdrawals of up to $10,000 from retirement accounts and imposing a 90-day moratorium on foreclosures on some homeowners as part of a plan to boost the economy and aid middle-income taxpayers.

Obama also wants the Federal Reserve and Treasury to lend money to state and municipal governments that are have having trouble raising money and for federal lawmakers to ``keep all options open'' to help struggling automakers.

Clinton Obama immigration debate

From CNN transcript:

CUMMINGS: On immigration. The Republicans have had a pretty fierce debate over immigration. And it's now pretty clear that that's going to be an issue for you all, as well, not just in the general, but it's bubbled up in some of the primaries. And it's a divisive issue for you all, as it is for the Republicans. And that was pretty evident when we got a question through Politico.

This is from Kim Millman (ph) from Burnsville, Minnesota. And she says, "there's been no acknowledgement by any of the presidential candidates of the negative economic impact of immigration on the African-American community. How do you propose to address the high unemployment rates and the declining wages in the African-American community that are related to the flood of immigrant labor?"

Senator Obama, you want to go first on that? And it's for both of you.