Auto Tariffs on the Table

November 14, 2018

https://www.reuters.com/article/us-usa-trade-autos/white-house-to-consider-commerce-department-auto-tariff-recommendations-officials-idUSKCN1NH2JP

There’s a lot in the above-linked article, reporting on the Trump administration’s consideration of tariffs on imported autos, that I can’t let pass without comment.  In short, the Commerce Department has submitted recommendations to the White House on whether and how to proceed with tariffs on imported autos and parts, based on its determination of whether auto imports pose a national security risk, something allowed under “Section 232” of the World Trade Organization rules.  The administration may hold off on implementation of tariffs, pending progress in talks with Europe and Japan aimed at restoring a balance of trade in autos and parts.

You may ask how auto imports pose a “national security risk.”  Good question.  I don’t know the administration’s rationale for it.  Imported cars themselves are surely not a risk.  It’s not as thought Toyota and VW and Honda and Mercedes and Hyundai and BMW have secretly planted bombs inside the cars.  The cars aren’t a risk.  However, what is definitely a national security risk is the enormous trade deficit in autos and parts.  There is no greater threat to the long-term viability of our economy than a big, sustained trade deficit that drives our budget deficit and national debt ever further out of control.  And we’ve now run a huge trade deficit for forty-three consecutive years.

The only mystery here is why the administration hasn’t acted already.  It’s becoming clear that the remaining globalists in Trump’s cabinet, like Larry Kudlow, Director of Trump’s Economic Council, and John Kelly, Trump’s Chief of Staff, have the upper hand over trade hawks like Trump’s trade advisor, Peter Navarro.  As a result, Trump is being sucked into the kind of endless “trade negotiations” that have paralyzed U.S. trade policy for decades.

But having the Commerce report ready for action would underscore a consistent threat from President Donald Trump – that he would impose tariffs on autos and auto parts unless the EU and Japan make trade concessions including lowering the EU’s 10 percent tariff on imported vehicles and cutting non-tariff barriers.

… Last month, the administration said it would open formal trade talks with the EU and Japan in early 2019 after the 90-day required congressional notification period ends.

Such talks are a complete waste of time.  Lowering barriers in the EU and Japan will make absolutely no difference in the trade deficit.  Europeans and Japanese don’t buy imported American cars because their countries are so crowded that their per capita consumption of vehicles is a fraction of that of Americans.  They don’t buy them because there’s no place to park cars and their roads are so crowded that they can’t make practical use of cars.  The only way to achieve a balance of trade in autos and parts is to keep their imports out.  Tariffs are the most effective method of doing that.

Of course, stories such as this are never complete until the free trade advocates have their chance to scare you with dire predictions.

The Alliance of Automobile Manufacturers, whose members include General Motors Co (GM.N), Volkswagen AG (VOWG_p.DE) and Toyota Motor Corp (7203.T), warned the price of an imported car would increase nearly $6,000, while the price of a U.S.-built car would increase by $2,000.

A study released by a U.S. auto dealer group warned the tariffs could cut U.S. auto sales by 2 million vehicles annually and cost more than 117,000 auto dealer jobs, or about 10 percent of the workforce.

If the price of imports goes up by $6,000 while the price of domestically-manufactured cars goes up by only $2,000, which are you more likely to buy?  The answer is obvious, but the above-mentioned groups only want you to focus on the fact that the cost of all autos will increase.  They want you to think that you won’t be able to afford a car any more.  They hope that you’re too dumb to realize that shifting manufacturing back to the U.S. will create hundreds of thousands of new jobs and will drive a demand for labor that will also drive wages higher – more than enough to offset any price increase.  U.S. auto sales won’t fall by 2 million vehicles annually.  They’ll actually increase as rising wages make cars more affordable.  And regarding the loss of auto dealer jobs (117,000 estimated in the article), you can bet that dealer jobs will be lost at the imports’ dealers if the foreign companies aren’t smart enough to begin building their cars in the U.S., but those folks will quickly find new work at GM, Ford and Chrysler.

Trump is wasting precious time by dithering with these worthless “trade negotiations.”  He needs to implement tariffs now and make them big enough – at least 25% – to have the desired effect, which is driving manufacturing back to the U.S.  Before the next elections in two years, Americans need to see tangible results in the form of a falling trade deficit and rising wages, or the globalists will surely regain the upper hand.

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Trade Deficit Exploding

November 5, 2018

So far, the minimal tariffs that Trump has imposed on China (10% tariffs on half of their exports) has been powerless to stop a tax cut-fueled explosion in the trade deficit.  On Friday, the Labor Department released the employment report for October and, once again, it was a strong one.  The economy added 250,000 jobs.  Unemployment held steady, and wages rose at their fastest pace in years.  The economy is doing well, at least better than it has since the U.S. granted “most favored nation” status to China in the year 2000.

However, at the same time on Friday, the Commerce Department released the trade figures for the month of September – the first month that the tariffs were in full effect – and it’s clear that much of the economic stimulus provided by the tax cut that went into effect this year is ending up in the hands of China, Japan and Germany.  The trade deficit in manufactured goods exploded to another new record – $71.6 billion (an annual rate of $859 billion) – blowing past the previous record set only one month earlier.  Look at this chart:  Manf’d Goods Balance of Trade.

This morning, I came across this commentary on CNBC:  https://www.cnbc.com/2018/11/05/us-keeps-cutting-large-checks-to-china-japan-and-germany—commentary.html.  I don’t agree with everything said here, but it’s encouraging to see that people are starting to “get it” when it comes to the trade deficit:

“Those who are sadly and incorrectly arguing that this does not matter should note that America’s trade deficits will be added to its $8.6 trillion of net foreign debt recorded at the end of the second quarter.

That large overseas transfer of American wealth is also a drag on economic growth. In the first nine months of this year, the growth of the gross domestic product was lower than the growth of domestic demand as a result of increasing U.S. trade deficits.”

Finally, someone acknowledging that the trade deficit is the driving force behind our growing national debt.

Trump is exactly right to treat the trade deficit as a national security threat and to begin imposing tariffs on that basis.  So far, however, it’s been too little.  The tariffs need to be extended to all imports from China.  They need to be raised to 25% or more.  And they need to be extended beyond China, to Germany and Japan and anyone else who attempts to prop up their economies at the expense of American workers.  When that happens – when corporations stop seeing tariffs as a fleeting ploy in trade negotiations and instead see manufacturing in the U.S. as a more profitable business model than paying high tariffs – then and only then will trade become more balanced and fair and the trade deficit will begin to decline.


Trade Deficit in Manufactured Goods At Record High

December 7, 2017

The trade deficit in manufactured products* rose to a record high of $64.6 billion in October, surpassing the previous record of $63.3 billion set in March of 2015.  Take a look at this chart of our monthly deficit in manufactured goods:  Manf’d Goods Balance of Trade. Exports of manufactured goods haven’t risen since September of 2011 (in spite of Obama’s laughable proclamation in 2010 that we would double exports in five years).  In the meantime, imports have soared by almost $30 billion.  It’s a dubious distinction for President Trump who, during his inaugural address in January, spoke of “…rusted-out factories scattered like tombstones across the landscape of our nation…” and proclaimed that “This American carnage stops right here and right now.”

To be fair, Trump didn’t mean that it would happen on the spot.  His administration has been taking steps to address our trade problem, trying to renegotiate NAFTA (the North American Free Trade Agreement with Mexico and Canada), imposing tariffs on some products and, most recently, blocking China from rising to “market economy” status with the World Trade Organization.  Aside from the work on NAFTA, which may conclude soon with the U.S. walking away from that ill-conceived agreement, the rest amounts to little more than the token steps taken by previous administrations.  The net result is that the plight of the manufacturing sector of our economy grows steadily worse.

Enough is enough.  It’s time to walk away from both NAFTA and the World Trade Organization and begin implementing tariffs.  Any tariffs would be better than our current trade policy, but smart tariffs that address the real cause of our trade deficit – attempting to trade freely with badly overpopulated nations characterized by bloated labor forces and anemic markets – would be much more effective.  As an example, it was reported yesterday that Canada, angered by their treatment in the NAFTA negotiations, has canceled an order for Boeing-made fighter planes.  Why are we treating Canada this way?  Sure, we have a trade deficit with Canada, but it’s due entirely to oil.  In 2016, our biggest trade surplus in manufactured goods, by far, was with Canada – $44 billion, more than double any other country.  Canada is our best trading partner.  Why anger them?  Why not tell Canada that our beef is with Mexico, with whom we had a trade deficit in manufactured goods of almost $68 billion in 2016 – our third worst behind China and Japan – and that they’ll get just as good a deal from the U.S. without NAFTA?  Slap the tariffs on Mexico, not Canada.

We could completely wipe out our trade deficit in manufactured goods by applying tariffs to only ten countries – China, Japan, Mexico, Germany, Ireland, Vietnam, South Korea, Italy, India and Malaysia.  These ten countries, all more densely populated than the U.S. (all but Ireland are many times more densely populated), account for all of our trade deficit in manufactured goods.  While we have defiicts with others, they are much smaller and are offset by surpluses with the rest of the world.  The point is, we don’t have to anger the entire world with tariffs – just ten out of the more than 220 countries in the world.  So let’s be smart about how we do it, but the time has come, Mr. President.  Stop delaying the inevitable.  Do what you know needs to be done.

* The trade deficit in manufactured products is calculated by subtracting services, trade in petroleum products, and trade in foods, feeds and beverages from total trade, as reported by the Bureau of Economic Analysis in its monthly reporting of international trade.


Ending NAFTA Would Hurt U.S.?

December 1, 2017

https://www.reuters.com/article/us-nafta-economy/ending-nafta-would-hurt-growth-competitiveness-of-united-states-canada-report-idUSKBN1DR1D4

The above-linked story appeared a few days ago, warning of a 0.2% “hit” on U.S. GDP (gross domestic product) if the U.S. walked away from NAFTA, the North American Free Trade Agreement, which has resulted in a huge trade deficit with Mexico.  The argument is that the U.S. will be less competitive with the rest of the world without access to the cheap labor in Mexico.  Making autos and parts in the U.S. will raise costs, making American autos more expensive relative to imports from Japan, South Korea and Europe.

That’s probably true, but the answer to that is fairly simple.  Raise tariffs on products from those regions as well.  The trade deficit has never been about “competitiveness.”  Rather, it’s the result of attempting to trade freely with badly overpopulated nations who come to the trade table with a gross over-supply of labor and markets plagued by low per capita consumption.  I’ve always maintained that a piece-meal approach to addressing this problem can never work.  Tariffs need to be applied universally to every country whose emaciated markets are out of balance with their over-supply of labor.

One might question whether this will result in higher prices for American consumers.  Sure it will.  But the explosion in the demand for labor to make all these products in the U.S. once again, as we did decades ago, would drive wages higher even faster, making products more affordable in spite of higher prices.

President Trump has long promised to “put America first” in trade by withdrawing from NAFTA and even the World Trade Organization, and by then levying tariffs as necessary to restore a balance of trade.  During his recent trip to Asia, he made it clear once again that that will be our approach to trade from now on.  This is exactly what’s needed to halt the parasitic drain of the life blood from our economy.  The time has come, Mr. Trump.  Do it.

 


Low Wages Play Little Role in Trade Imbalances

July 20, 2017

In my previous two posts in which we examined the lists of America’s worst trade deficits and best trade surpluses in manufactured goods, it seemed clear that low wages were not a factor.  Many of our worst trade deficits were with wealthy nations like Germany, Ireland, Switzerland, Denmark, France, Japan and South Korea.  The list of our best trade surpluses was also dominated by wealthy nations.

Let’s take a closer look at the issue.  If we sort a list of nations by purchasing power parity, or “PPP” – a factor roughly analogous to wages, and divide them equally into five groups, ranging from the wealthiest nations to the poorest, here’s what we find:

  • Among the 33 wealthiest nations, whose PPP ranged from $129,700 (Qatar) to $34,400 (Cyprus) in 2016, the U.S. had a trade deficit in manufactured goods with 15 of them.
  • Among the next 33 nations, whose PPP ranged from $33,200 (Czech Republic) to $16,500 (Iraq), the U.S. had a trade deficit with 13 of them.
  • Among the next 33 nations, whose PPP ranged from $16,100 (Costa Rica) to $8,200 (Ukraine), the U.S. had a trade deficit with 10 of them.  China is near the top of this group.
  • Among the next-to-last poorest group, whose PPP ranged from $8,200 (Belize) to $3,100 (Lesotho), the U.S. had a trade deficit with 13 of them.
  • Among the very poorest nations, whose PPP ranged from $3,100 (Tanzania) to $400 (Somalia), the U.S. had a trade deficit with only 4 of them.

So if low wages cause trade deficits, why aren’t our trade deficits concentrated among the poorest nations instead of that group actually representing the fewest deficits by far.  And why does the richest group of nations include the most (and some of the biggest) deficits?

There’s no denying the fact that, among the poorest nations, the U.S. had a deficit in manufactured goods with 17 of them.  Included in that group are Vietnam and India.  But both rank among the top 25 nations with the fastest growing PPP (146% and 145% relative to the U.S., respectively) over the past ten years.  Since incomes are rising so fast in those countries, then if low wages are a factor in driving trade imbalances, shouldn’t our deficits with those countries be declining?  They’re not.  Quite the opposite is happening.  Our deficits with both have exploded over the past ten years, by 349% with Vietnam and 250% with India.  Our trade deficit is making them wealthier.

It’s difficult to argue that low wages play no role whatsoever.  Mexico is an obvious example of where American companies are setting up shop there, just across the border, for no other purpose than to save on labor.  Everything made there comes back into the U.S.  Virtually none of those products are sold into the Mexican market.  While many of the other manufacturing operations built in other countries like China are put there primarily in pursuit of those markets, that’s not the case with Mexico.  And mysteriously, the increased demand for labor in Mexico doesn’t seem to do much to raise wages there.  Mexico is being used as a virtual slave labor camp and, by all appearances, there must be some collusion between American companies and the Mexican government to keep it that way.

Aside from the glaring example of Mexico, low wages play no role whatsoever in creating our massive trade imbalance in manufactured goods, as proven by the fact that the vast majority of our worst trade imbalances are with wealthy nations.  Instead, trade imbalances are caused by high population densities that make our trading partners incapable of consuming products anywhere close to their productive capacity.


Trump’s “Faulty Trade Math?” Accuser’s math is faulty.

April 29, 2017

http://www.reuters.com/article/us-usa-trump-trade-analysis-idUSKBN17U2SL

This is rich!  In this above-linked op-ed piece (which isn’t identified as such but, rather, is presented as a factual report), the author takes Trump to task for “faulty math” regarding trade policy.  But it’s the author of this article whose math is “faulty” at best, or deliberately misleading at worst.  First, let’s consider some of the statements leading up to his “math.”

In the case of Mexico, the American companies that exported a quarter of a trillion dollars of goods and services to that country last year would be out a customer, and likely cut jobs.

Those American companies that tried to replace the $323 billion in Mexican imports would likely do so at a higher cost — assuming they are in the United States to begin with.

They would be in the United States if similar policies are applied to other countries, which would only make sense.  Then, yes, the domestic manufacturers would likely replace those Mexican imports at a higher cost.  But the author conveniently ignores the fact that the increased demand for labor in the U.S. would drive wages up even faster.

“Americans seem to really like guacamole,” Noland said, “but the idea that we are going to have giant greenhouses and lots of avocados and limes – the fact that we are purchasing them from the Mexicans rather than producing them at home tells you producing them at home is more expensive. We can stop trading with the Mexicans, and have $60 billion less in consumption.”

Seriously?  This is the argument for not bringing a million manufacturing jobs back from Mexico?  Avocados and guacamole?  If they cost 20% more, people won’t buy them?  They’ll just consume less?  They won’t serve onion dip at their parties instead?  Come on!  How much of your disposable income do you spend on avocados and guacamole?  How much more income would you have to spend on them if your wages went up?

By the statistics most widely accepted among economists, the U.S. position with the rest of the world has been steadily improving as investment flows into the country from abroad and supports millions of jobs.

This is an outright lie.  The flow of capital investment has been negative for decades.  While some investment dollars do come into the U.S., far more have left, making net investment a big drag on jobs.

OK, now for the “faulty math:”

Even if Trump achieved his wildest success, and eliminated the United States’ $500 billion trade deficit solely through increased exports that boosted gross domestic product on a dollar-for-dollar basis, it would do little to dent the estimated $7 trillion in government deficits his tax plan is projected to generate over the next decade.

Alan Cole, an economist at the Tax Foundation, said that every dollar of gross domestic product generates about 17.6 cents in federal government revenue, meaning the $500 billion trade shortfall would translate into just $88 billion in new taxes.

That part is true but, as free trade advocates tend to do, he’s presented only one half of the equation.  That annual trade deficit of $500 billion (actually $800 billion if talking about manufactured products) is a drain on the economy.  If every dollar of that deficit isn’t re-injected into the economy in some way, the result is a permanent recession.  Since we’ve already noted that capital investment is also a net outflow, the only way left to re-inject that money into the economy is through federal deficit spending, in all its forms.  Grants for education, for police and fire, for infrastructure. safety net programs like welfare and medicaid, health care premium support under the Affordable Care Act, student loans … the list goes on and on.  All of this federal spending is made necessary by the trade deficit drain of money from the economy.

So, not only would restoring a balance of trade produce an additional $88 billion in new federal revenue (nothing to sneeze at and it would likely be more than that), but it would also cut federal spending by $500 billion.  That’s a net impact of nearly $600 billion per year – enough for the federal government to balance its budget.  And it would likely pave the way for cuts to personal income tax rates, saving all of us a bundle.

The case for free trade made by its advocates often reminds me of the commercials we all see on TV for the local casinos.  Everyone gathered around the blackjack table or the crap table pumps their fists and high-fives their friends as they celebrate another win and rake in their money.  Everyone’s winning and having a great time!  “Casinos are a big boost for the local economy,” we’re always told when some development group wants to build a new one in your community.  The casino owners and a few surrounding hotels and restaurants are winners.  You’re not.  If you’re someone who frequents one of these places, you’re a loser.  You may not want to admit it, but you are – you’re a loser.  Don’t feel bad.  Everyone who goes there is a loser.  Everyone who owns a business where you’d spend your money if you hadn’t lost it at the casino is also a loser.  Casinos are a net drag on the broader community, siphoning away money that people need for other things.

It’s exactly the same with a trade deficit.  Global corporations are winners.  The rest of us are losers.  But they want you to think that free trade benefits you in ways that are just too difficult to understand or quantify.  Remember Enron, the huge “energy trading company” that was such a darling of Wall Street back in the ’90s?  No one could figure out exactly how they made money.  Enron executives condescendingly sneered that their business was just too sophisticated and complicated for most investors to understand.  And lots of otherwise-intelligent people were sucked in.  Eventually, the whole thing collapsed spectacularly and was exposed as a giant scam.  Investors had been played for fools.  That’s exactly the same scam free traders are running when they tell you that it’s not just a matter of money in versus money out.

If trade deficits don’t matter, why is it that countries like Mexico, China, Germany, Japan, South Korea and others are so adamantly opposed to taking their turn at it?  It’s because they know the real math.


Student Visas

February 24, 2017

The subject of student visas aggravates me as much as illegal immigration (although we’re finally getting some great news on that front).

Why?  “What’s the problem with student visas?” you might ask.  For most, the topic probably conjures up images of foreign exchange students coming to the U.S. to experience life here and return home to spread the news about what a great place the U.S. is and to help spread our value system around the world.  Or maybe you envision students coming here for an education that can be put to work back home in some underdeveloped country, helping to raise living standards there.  But the reality of the situation is nothing like this.  The student visa program boils down to money.  It’s a system designed to suck trade dollars back into the U.S. economy and to prop up inflated tuitions.

Let’s begin with some data.  Here are the statistics for non-immigrant visas issued from 2011 through 2015.  (The data for 2016 is not yet available.)  Student visas are primarily “F” visas.  “M” visas are for vocational students.  Taken together, they totaled nearly 700,000 in 2015.  These are “non-immigrant” visas, but don’t be fooled.  A large percentage of these students receive immigrant visas (leading to permanent status) almost automatically upon graduation.

Where do these students come from?  About 280,000 came from mainland China.  75,000 came from India.  28,000 came from Saudi Arabia.  27,000 came from South Korea.  17,600 came from Vietnam.  An equal number came from Mexico.  17,000 came from Japan.  The rest are spread across the remaining nations of the world.  The significance of this list will be discussed later.

To get an idea of what the student visa program is really about, take a look at this web site, which provides information for foreign students for how to apply:

https://www.studyusa.com/en/a/33/how-to-get-your-u-s-student-visa

What it boils down to is this:  you have to explain why you want to study in the U.S. and, more importantly, you have to prove that you can pay for it.  There’s no student loan program here, at least not through U.S. agencies.  If you can get scholarship money from your native country, fine, but regardless of how you get the cash, you have to be able to pay your way.  You must also declare your intent to return to your home country when you’re finished with your studies.  But that’s a formality, one easily skirted when you actually get your degree.

In 2015, over 677,000 “F” visas were issued.  223,000 applicants were refused.  In other words, about three quarters of all applicants are accepted.

Now, let’s take a look at some interesting findings about the student visa program published in a study by the Brookings Institution in 2012.  Here’s the link:

https://www.brookings.edu/interactives/the-geography-of-foreign-students-in-u-s-higher-education-origins-and-destinations/#/M10420

“From 2008 to 2012, 85 percent of foreign students pursuing a bachelor’s degree or above attended colleges and universities in 118 metro areas that collectively accounted for 73 percent of U.S. higher education students. They contributed approximately $21.8 billion in tuition and $12.8 billion in other spending—representing a major services export—to those metropolitan economies over the five-year period.”

Got that?  They paid full tuition and living expenses, bringing over $33 billion into the economy.  And that was through 2012.  In 2015, when 25% more visas were issued than in 2012, that figure rises to over $42 billion.

Two-thirds of foreign students pursuing a bachelor’s or higher degree are in science, technology, engineering, mathematics (STEM) or business, management and marketing fields, versus 48 percent of students in the United States.

Remember how tech companies claim that they depend heavily on immigrants to provide the advanced skills that they need?

Forty-five (45) percent of foreign student graduates extend their visas to work in the same metropolitan area as their college or university.

In other words, these students then go on to become the H1-B visa workers that the tech industry (and many others) claim that they need.  So the “non-immigrant” nature of student visas, and the declaration of intent to return to their home country, is truly a joke.  Here’s further evidence that student visas are used as the pipeline for H1-B visas:

http://www.h1base.com/content/f1visa

These companies who claim that they’re dependent on immigrants for the skills they need are trying to pull the wool over your eyes.  What they need are STEM graduates and they get them from American universities.  They like the fact that foreign students contribute to a glut of labor that helps to keep their payroll costs suppressed.  When Apple claims that, if immigrants aren’t allowed to travel freely to work in the U.S., then they might need to relocate to where they can have easier access to immigrant labor, that’s a “crock” and they know it.  Go ahead, Apple, move to Yemen or  Iran or Libya or one of those other countries, and let’s see how successful you can be there.  What you really need are the STEM graduates of American universities.  You won’t find them in those other places.  But what you will find are poverty, illiteracy and oppressive governments.  But you say you can do better there.  So prove it.  Just leave.  Go ahead.  Go.

There’s a mind-numbing amount of information in these links.  Let’s boil it all down:

  • Immigrants currently fill 1.2 million of the seats available in American universities.  That’s a significant percentage of the seats available.
  • Approximately three quarters of foreign students who apply are accepted.  Compare that to the acceptance rate for American students at most prominent universities, where only 10% or fewer attain admission.
  • Why the preference for foreign students?  Because they pay full tuition, propping up the ridiculous rate of tuition increases.
  • Foreign students are given preference over American students because of their ability to pay.  This effectively shuts American students out, especially from STEM curricula.
  • The influx of foreign students actually counts as an export of services.  Can you believe that?  It’s one of the tricks used by the government to draw trade dollars back into the U.S. economy and to keep our trade data from looking even worse than it does.
  • University sports teams have also gotten in on the act, now recruiting foreign students through the “student” visa program, denying athletic scholarships to deserving American athletes.  When it comes time for the Olympics, those athletes, trained in America, compete for their home countries, leaving the American teams thin.
  • Almost half of foreign students then go on to work in America, shutting American students out of those jobs as well.
  • The student visa program feeds into the H1-B visa program, which then begins to feed many of the other immigrant categories such as immediate relatives and family-sponsored preferences.

OK, remember the above list of countries that send the most students?  Did you notice anything about that list?  Did you notice that it includes the countries with whom America has the biggest trade deficits?  That should give you a clue as to where these foreign students are getting the money they need for tuition.  Their parents are getting rich on manufacturing for export to the United States.  What this means is that, in addition to taking your job, they then use your money to pay for their kids to come over here and take your kids’ jobs too!  Can this scheme possibly get any more outrageous?

If you’re an American student who hasn’t been able to get accepted into the school or program of your choice, the student visa program is probably the main reason.  If you’re a recent graduate and find yourself now saddled with crushing student loan debt, you can blame the student visa program for propping up ridiculous tuition rates.  And if you now find yourself struggling to find a job, you can once again blame the student visa program.

The student visa program is an outrage perpetrated on unsuspecting parents and students, depriving them of opportunities to help America out of its trade-created cash crisis, to help greedy universities prop up inflated tuition rates and to help corporations suppress wages with a labor glut.  It has to stop.  No foreign student should be admitted until every last American kid who wants a college education has gotten a seat in a university.  President Trump … please … take a close look at the student visa program and rein it in.