Michael Snyder| Back in the early 1990s, the North American Free Trade Agreement (NAFTA) was one of the hottest political issues in the country. When he was running for president in 1992, Bill Clinton promised that NAFTA would result in an increase in the number of high quality jobs for Americans that it would reduce illegal immigration.
Ross Perot WARNED that just the opposite would happen. He warned that if NAFTA was implemented there would be a “giant sucking sound” as thousands of businesses and millions of jobs left this country. Most Americans chose to believe Bill Clinton. Well, it is 20 years later and it turns out that Perot was right and Clinton was dead wrong.
But now history is repeating itself, and most Americans don’t even realize that it is happening. As you will read about at the end of this article, Barack Obama has been negotiating a secret trade treaty that is being called “NAFTA on steroids”, and if Congress adopts it we could lose millions more good paying jobs.
“Clinton and his collaborators promised that the deal would bring “good-paying American jobs,” a rising trade surplus with Mexico, and a dramatic reduction in illegal immigration. Considering that thousands of kids are pouring over the border as we speak, well, how’d that work out for us?
Many Americans like to remember Bill Clinton as a “great president” for some reason. Well, it turns out that he was completely and totally wrong about NAFTA. The following are 20 facts that show how NAFTA is destroying the economy…
#12 Overall, the United States has lost a total of more than 56,000manufacturing facilities since 2001.