Lou Dobbs: He May Not Be a Protectionist, But He Plays One on TV

So said Consumer Electronics Association President Gary Shapiro to CNN personality Lou Dobbs in their "debate" last night.

You might remember that Shapiro challenged Dobbs to a live debate when CEA launched their free trade campaign in October. After CEA made significant noise about the value of free trade at their huge CES trade show last week, Dobbs bit on the challenge (to his credit).

Here's the video:

And, here are the facts to the Dobbsisms that he tosses around like Junior Mints (more can be found in CEA's press release about the debate here)...

• While Dobbs claims that trade has resulted in the loss of three million jobs, he ignores the fact that over that same period 25 million good jobs were created.

• While Dobbs rails against agreements such as NAFTA, he conveniently ignores that before NAFTA, the average unemployment rate was around 7 percent and in the 14 years since it has been about 5 percent.

• While Dobbs frets over imports into this country he ignored the fact that $220 billion of high-tech products, which includes consumer electronics, were exported from this country, and that many of the companies that produced those products were small and medium-sized companies that are the lifeblood of the U.S economy. Moreover, he doesn’t even address that the percentage of exports from the United States to the world has gone up by 4,000 percent (1,000 percent in real terms) over the last 42 years.

• When Dobbs belittled the jobs that have been created by the consumer electronics industry, he belittled the hard-working men and women who work for companies here in the United States that help spur the engine of the American economy – the very people he claims to be fighting for.

Comments

[Jeanne Weidenhammer]

Where did Shapiro get his numbers--net gain of 22 million good-paying jobs over last 15 years? What a bunch of nonsense.As for employment numbers--they are mostly in service related industries. Ever see the now empty Hewlett Packard formerly Compaq plants in Houston? I can't buy a DVD, coffee maker, clothes, small appliances, etc. made in the USA. I refuse to shop at Walmart's or buy anything made in China. Tell me again how good this free trade is? Wouldn't fair trade be better?

[Wyatt Ditzler]

What interview are you talking about? The video I saw above, does not include most of the bulleted information points.

Where did these numbers come from, not just in the video, but what sources did Shapiro get these numbers from?

You have my e-mail, let me know!

[Sean Garrett]

22 million net jobs: Bureau of Labor statistics. Happy to send the figures if you like.

Unemployment rate before and after NAFTA: Bureau of Labor

On the $220 million figure, high tech is America’s largest export sector and makes up 21 percent of total U.S. exported goods in 2006. The European Union was the top importer of these goods, followed by Canada, Mexico and China. This comes from a 2007 American Electronics Association study.

The 4000% export figure comes from a U.S. Department of Commerce Bureau of Economic Analysis study.

Wyatt: The point of posting these facts was to back up Shapiro's points. Something that Lou didn't allow for on the show.

Just for fun, an expanded list of factoids..

• Consumer electronics play a significant role is our daily lives with an average 25 devices in every American household.
(CEA Market Research, October 2007)

• Americans purchased CE products to the tune of $145 billion in 2006, a record amount that exceeded predictions and registered a 13 percent increase over the previous year.
(CEA Market Research, 2006)

• From 1990 to 2005, employment because of the CE industry grew 19 percent in the United States. In 2005 alone, the CE industry helped add 30,000 American jobs.
(CEA Market Research, U.S. Bureau of Labor Statistics, Spring 2006)

• From 1994 to 2004, employment in the CE retail sector experienced a productivity increase of 309 percent (compared to general retail productivity increases of 52 percent).
(CEA Market Research, U.S. Bureau of Labor Statistics, Spring 2006)

• The CE U.S. manufacturing sector, from 1994 to 2004, experienced a productivity increase of 126 percent (compared to general manufacturing productivity increases of 48 percent over the same time).
(CEA Market Research, U.S. Bureau of Labor Statistics, Spring 2006)

• The CE industry pays higher wages in retail and manufacturing than other industries, 18 percent higher in retail, 15 percent higher in manufacturing.
(CEA Market Research, U.S. Bureau of Labor Statistics, Spring 2006)

• Since 1965, exports of goods and services have increased 4,000 percent (1000% in real terms) while imports have increased 8000 percent (1300% in real terms). Over this same time, the US economy has grown more than 350 percent. The US economy produced more in 2007 than it ever has at any point in its 200 plus year history.
(U.S. Department of Commerce: Bureau of Economic Analysis)

• From 2000 to 2006, U.S. CE exports increased 12 percent to Peru, 35 percent to Columbia, and 44 percent to Panama
(American Electronics Association, June 2007)

• Over the last five years, U.S. high-tech exports to South Korea increased by 45 percent, totaling $10.6 billion in 2006
(American Electronics Association, June 2007)

• CE imports from China alone support more than 60,000 American jobs (net) across a range of sectors in the United States
(CEA Market Research, 2007)

• High tech is America’s largest export sector ($220 billion), making up 21 percent of total U.S. exported goods in 2006. The European Union was the top importer of these goods, followed by Canada, Mexico and China.
(American Electronics Association, 2007)

• According to the U.S. Small Business Administration, small businesses comprise 97 percent of all U.S. direct exporters, generate 60 to 80 percent net new American jobs annually, and 29 percent of U.S. export value.
(U.S. Small Business Administration, Breaking into the Trade Game, 2005)

• About 65 percent of all U.S. exports come from small businesses with fewer than 20 employees, according to the U.S. Trade Representative.
(U.S. Small Business Administration, Breaking into the Trade Game, 2005)

According to a recent consumer survey commissioned by CEA:

• 69 percent of Americans agree being able to trade with other countries is good for the U.S. economy.

• 56 percent of Americans agree that on a level playing field, U.S. companies can compete with any company in the world

• 52 percent of Americans agree international trade benefits them as a U.S. consumer

• 68 percent of Americans agree international trade helps to provide greater selection of consumer electronics products

• 62 percent of Americans agree that if the U.S. were to decrease trade with other countries, they feel they would end up paying more for consumer electronics products

[Wyatt Ditzler]

Thanks for the information Sean. I also asked where Mr. Dobbs found his statistics.

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