made in china

made in china (Photo credit: mandiberg)

I didn’t watch the second presidential debate between and Obama. I had something more important to do: ironing pillowcases and doing some laundry.

But my friend (I’ve never met him but I like him) did. And he just had to write a letter to The Wall Street Journal to vent:

Yesterday’s presidential debate further exposed Messrs. Obama’s and Romney’s economic illiteracy (“China a Punching Bag in U.S. Presidential Debate,” Oct. 17).

Each man insists that America’s can be harmed by inexpensive imports – in other words, harmed by opportunities for voluntary exchanges that lower Americans’ cost of living.

He starts with Romney:

By promising to raise on Americans who buy Chinese-made goods, Mr. Romney again promised to break his campaign promise to not raise taxes.  That he is unaware of the contradiction isn’t promising.

I must interject here: Romney is following the advice of his CFR-tainted foreign policy advisors. Here is enough information to prove that point. Economically, his CFR advisors are trained in economics, so at least they’re consistent – wrong, but consistent.

But Romney has no corner on economic ignorance:

Mr. Obama is no better.  He bragged that he “saved a thousand jobs” with his “tough” trade action that – by raising on Americans who buy Chinese-made tires – ensured “that China was not flooding our domestic market with cheap tires.”

Yup. That’ll fix it!

Boudreaux offers other ways to keep American jobs here:

If creating more jobs in U.S. tire factories justifies forcing consumers to pay higher prices for tires, the Obama administration should also outlaw the sale of used tires (which, like low-priced imports, are “flooding our domestic market”).  Indeed, the president should seek legislation mandating that all rubber used to make tires be non-vulcanized.  The resulting decline in tire durability will create even more jobs in U.S. tire factories by “protecting” our market from being “flooded” with cheap tire durability – that is, with tires that last for tens of thousands of miles before needing to be replaced.

The duel of the dunces. That’s why I had more important things to do on Tuesday night.

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