I think, like many others, I realized that only the massive introduction of American support in one form or another, could possibly bring about a rehabilitation of the economies of those countries within a reasonable time.
Sentiment: NEGATIVE
We're grappling with the same issue facing all advanced economies - how to revive growth and distribute its fruits more fairly. An America that can tackle that problem head-on can perhaps help revive a stagnant global economy.
Help is even being offered from across the ocean, as over two dozen countries have stepped forward to offer financial and material support to the American people.
If we are to garner sustained U.S. domestic support for future trade agreements, we have to make sure those Americans who have suffered as a consequence of past agreements have an effective social safety net, adjustment assistance, opportunities for retraining and new job creation that enables all Americans to thrive.
We need to reclaim our American system of limited government, low taxes, reasonable regulations, and sound money, which has blessed us with unprecedented prosperity. And it has done more to help the poor than any other economic system ever designed.
The United States basically accepted protection abroad as the price of post-war recovery. Now, that these countries have caught up to our level of prosperity, it is time for them to catch up to our level of openness.
Already we're seeing graduates of U.S. higher education going back to their home countries and contributing to societies there, where in the past they would have stayed in the U.S. and built new companies here. We have to have immigration reform that allows talented foreigners to become Americans.
The U.S. has to realize it's got so much going for it. Let's just get ourselves to come together as a team - one team running the country, helping that country to get itself back on stable footing, which then cascades to the rest of the world.
But obviously, we can't afford to make some bad long-term decisions with regard to basic commitments our country has - trade those away for some short-term assistance that may or may not be there a month from now.
The problem is not that the U.S. economy won't be able to take care of its citizens - it is that taking away benefits, creating intergenerational warfare, and scapegoating will make for very difficult and bad politics. This is a tragedy that we can see coming. Early action would be relatively painless.
We should be able to support our own economy within our own borders.