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Obama Says Offshoring Fears Are Unwarranted
alphadogg writes "The perception that Indian call centers and back office operations cost US jobs is an old stereotype that ignores today's reality that two-way trade between the US and India is helping create jobs and raise the standard of living in both countries, US President Barack Obama told a gathering of business executives in Mumbai on Saturday. President Obama's remarks come after some moves in the US that had Indian outsourcers worried that the US may get protectionist in the wake of job losses in the country. The state of Ohio, for example, banned earlier this year the expenditure of public funds for offshore purposes. US exports to India have quadrupled in recent years, and currently support tens of thousands of manufacturing jobs in the US, he said in a speech that was also streamed live. In addition, there are jobs supported by exports to India of agriculture products, travel and education services. President Obama, who is in India on a three-day visit, said that more than 20 deals worth about $10 billion were announced on the first day of his visit."
Worth ten billion dollars to whom, Mr. President. Is that ten billion leaving the U.S., never to been seen again, or are we getting something worthwhile in return? [...] What? What's that you say? I may not ask those questions?
Reading comprehension fail.
The 10 billion is the money is coming from India to the US. How it gets distributed within the US depends on how you vote in elections.
Not at all. You can't be accused of not comprehending that which you didn't read in the first place. As I explained to jo_ham, I prefer to go on a good rant first. That gives all of you a chance to feel haughty and superior, leaving you thoroughly disarmed before I eviscerate you with my sharp logic and rapier wit.
The higher the technology, the sharper that two-edged sword.
$10 Billion dollars... Oh whoop-de-doo! Your Ms. Hillary scored $60 bil from the Saudis with a single "deal". Who do you think Wall Street will favor in 2012?
For justice, we must go to Don Corleone