At an APEC (Asia-Pacific Economic Cooperation) summit last weekend in Hawaii, President Barack Obama told CNSNews that the United States needs to step up its courtship of foreign dollars. He said America has been “a little bit lazy” in promoting itself to overseas investors.
He added, “It’s important to remember that the United States is still the largest recipient of foreign investment in the world, and there are a lot of things that make foreign investors see the U.S. as a great opportunity — our stability, our openness, our innovative free market culture.”
But the concepts of stability and free markets have taken a hit during his administration, and not because free markets don’t work. A real unemployment rate of what critics say is closer to 20 percent than nine, a downgrade of the United States' debt rating, and a huge national debt don’t reflect stability. How does Obama propose to promote this climate as stable, open, and innovative?
“One of the things that my administration has done is set up something called SelectUSA that organizes all the government agencies to work with state and local governments where they’re seeking assistance from us to go out there and make it easier for foreign investors to build a plant in the United States, and put outstanding U.S. workers back to work in the United States of America,” he told CEOs and others at the summit.
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