Looks like Obama might be going down Hoover's path.
President-elect Barack Obama’s advisers are looking at including a “buy American” provision in the economic-stimulus legislation that the incoming administration has made its first priority.
“We are reviewing the buy American proposal and we are committed to a plan that will save or create 3 million jobs, including jobs in manufacturing,” said Jen Psaki, a spokeswoman for Obama’s transition team.
Nucor Corp. Chief Executive Officer Dan DiMicco said he will use his position as a member of the U.S. Department of Commerce’s manufacturing council to push for the use of domestically produced steel in such projects. Current requirements that American-made material be used in government projects are unevenly enforced, he said.
This is how trade wars start. It will destablized the interconnected world econonmy, leading to the failure of the very policies that the administration hopes to help the economy!
With a fragile enconomy in a deep recession, it won't take much to push us into a depression.