Clinton and Obama policies a recipe for economic stagnation

In the Democratic presidential debate in Cleveland, Ohio both Hillary Clinton and Barack Obama attacked NAFTA.

Hillary Clinton said:

It is not enough just to criticize NAFTA, which I have, and for some years now. I have put forward a very specific plan about what I would do, and it does include telling Canada and Mexico that we will opt out unless we renegotiate the core labor and environmental standards -- not side agreements, but core agreements; that we will enhance the enforcement mechanism; and that we will have a very clear view of how we're going to review NAFTA going forward to make sure it works, and we're going to take out the ability of foreign companies to sue us because of what we do to protect our workers.

Barack Obama said:

I will make sure that we renegotiate, in the same way that Senator Clinton talked about. And I think actually Senator Clinton's answer on this one is right. I think we should use the hammer of a potential opt-out as leverage to ensure that we actually get labor and environmental standards that are enforced. And that is not what has been happening so far. That is something that I have been consistent about. I have to say, Tim, with respect to my position on this, when I ran for the United States Senate, the Chicago Tribune, which was adamantly pro-NAFTA, noted that, in their endorsement of me, they were endorsing me despite my strong opposition to NAFTA.

Whilst NAFTA has undoubtedly contributed to job losses in Ohio and in other states it has also boosted jog creation in some sectors. Ohio is a major exporter to both Canada and Mexico. A withdrawal from NAFTA would hit many Ohio companies very hard and cost jobs. It would hit business confidence. In the long term protectionism will harm the US economy and encourage inefficiency. Free trade encourages efficiency and prosperity. Both Clinton and Obama are disingenuous. A withdrawal from NAFTA will not restore jobs lost in Ohio. They are cynically misleading the voters. If Obama and Clinton are really serious US business faces an uncertain future. In addition both have made promises totalling in excess of $800 billion dollars. The implications for US taxpayers are horrendous.