Yeah Barack Obama got elected today. Unfortunately for us, he is against OUTSOURCING. This is what he told Los Angeles Times today:
"And I will invest $15 billion a year in renewable sources of energy to create 5 million new energy jobs over the next decade -- jobs that pay well and can't be outsourced."
Obviously, Obama has a problem with outsourcing. His stand worried the Indians and some of our countrymen. But don't be alarmed. Even if Barack Obama prohibits or limits outsourcing he will only hurt US companies. Today's economic realities will slap Obama in the face if he does that. Outsourcing happens because all companies (at least sane ones) want to minimize costs and maximize profits. It is a natural business consequence. Why would a US company spend $7 an hour to an employee on a minimum wage when they could fork 15 cents an hour in some third world country? It will be a foolhardy decision if Barack Obama insists on his plan. Worse, other European countries are starting to outsource some of their jobs outside the continent. USA really needs to be competitive right now. Obama will be forced to retract his position once business executives complain and the reality of the situation seeps in to his consciousness. Politicians shouldn't interfere with economic realities to please certain constituencies -- its suicide.
Here's the Onion take on Barack Obama's derision towards outsourcing
"And I will invest $15 billion a year in renewable sources of energy to create 5 million new energy jobs over the next decade -- jobs that pay well and can't be outsourced."
Obviously, Obama has a problem with outsourcing. His stand worried the Indians and some of our countrymen. But don't be alarmed. Even if Barack Obama prohibits or limits outsourcing he will only hurt US companies. Today's economic realities will slap Obama in the face if he does that. Outsourcing happens because all companies (at least sane ones) want to minimize costs and maximize profits. It is a natural business consequence. Why would a US company spend $7 an hour to an employee on a minimum wage when they could fork 15 cents an hour in some third world country? It will be a foolhardy decision if Barack Obama insists on his plan. Worse, other European countries are starting to outsource some of their jobs outside the continent. USA really needs to be competitive right now. Obama will be forced to retract his position once business executives complain and the reality of the situation seeps in to his consciousness. Politicians shouldn't interfere with economic realities to please certain constituencies -- its suicide.
Here's the Onion take on Barack Obama's derision towards outsourcing
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