Lou Dobbs testified before Congress last month about the supposed perils of free trade:
Since the beginning of this new century, the United States has lost more than three million manufacturing jobs. Three million more jobs have been lost to cheap overseas labor markets…
That’s 6 million jobs. Donald Luskin points out that there are only 6.7 million unemployed people in the United States right now. So either free trade is the sole cause of nearly all unemployment, or else Lou Dobbs doesn’t know what he’s talking about.
If you don’t feel like reading Luskin’s article I’ll save you from the suspense: Lou Dobbs doesn’t know what he’s talking about.
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