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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=Body><b><span style='font-size:11.0pt;font-family:"Calibri","sans-serif"'>Just when I thought we were running out of momentum.<o:p></o:p></span></b></p><p class=Body><b><span style='font-size:11.0pt;font-family:"Calibri","sans-serif"'>Sorry for cross-posting!<o:p></o:p></span></b></p><p class=Body><b><span style='font-size:11.0pt;font-family:"Calibri","sans-serif"'>MFD, IBT<o:p></o:p></span></b></p><p class=Body align=center style='text-align:center'><b><o:p> </o:p></b></p><p class=Body align=center style='text-align:center'><b>The Democratic Party of Virginia Urges the United States Government to <o:p></o:p></b></p><p class=Body align=center style='text-align:center'><b>Set A National Goal to Balance Our Trade Account by January 1, 2020 to <o:p></o:p></b></p><p class=Body align=center style='text-align:center'><b>Create Millions of New Jobs in the United States of America<o:p></o:p></b></p><p class=MsoNormal align=center style='text-align:center;line-height:12.0pt'><span style='font-size:12.0pt;font-family:"Helvetica","sans-serif";color:black'><o:p> </o:p></span></p><p class=MsoNormal style='line-height:12.0pt'><b><u><span style='font-size:12.0pt;font-family:"Helvetica","sans-serif";color:black'>Background<o:p></o:p></span></u></b></p><p class=MsoNormal style='line-height:12.0pt'><span style='font-size:12.0pt;font-family:"Helvetica","sans-serif";color:black'>Recognizing the deleterious impact that trade deficits are having on our economy and jobs, the Obama Administration set a national goal of doubling exports. Nevertheless, imports continue to increase faster than exports. <o:p></o:p></span></p><p class=MsoNormal style='line-height:12.0pt'><span style='font-size:12.0pt;font-family:"Helvetica","sans-serif";color:black'><o:p> </o:p></span></p><p class=MsoNormal style='line-height:12.0pt'><span style='font-size:12.0pt;font-family:"Helvetica","sans-serif";color:black'>The Commerce Department reported the deficit on international trade in goods and services was $42.9 billion in June, 2012.<o:p></o:p></span></p><p class=MsoNormal style='line-height:12.0pt'><span style='font-size:12.0pt;font-family:"Helvetica","sans-serif";color:black'><o:p> </o:p></span></p><p class=MsoNormal style='line-height:12.0pt'><span style='font-size:12.0pt;font-family:"Helvetica","sans-serif";color:black'>Starting under Ronald Reagan, our nation began to run massive and continuous trade deficits culminating today in the largest cumulative trade deficit in the history of the world.<o:p></o:p></span></p><p class=MsoNormal style='line-height:12.0pt'><span style='font-size:12.0pt;font-family:"Helvetica","sans-serif";color:black'> <o:p></o:p></span></p><p class=MsoNormal style='line-height:12.0pt'><span style='font-size:12.0pt;font-family:"Helvetica","sans-serif";color:black'>Warren Buffet asserts that trade deficits mean we are consuming more than we are producing and borrowing from foreign countries to live a lifestyle we are not earning. He further warns that continuing such policies will “sell the country out from under us.”<o:p></o:p></span></p><p class=MsoNormal style='line-height:12.0pt'><span style='font-size:12.0pt;font-family:"Helvetica","sans-serif";color:black'> <o:p></o:p></span></p><p class=MsoNormal style='line-height:12.0pt'><span style='font-size:12.0pt;font-family:"Helvetica","sans-serif";color:black'>As U.S. companies take advantage of the U.S. tax code to outsource their production and to import goods once made here, our nation’s trade deficits contribute to the loss of millions of jobs in the United States. <o:p></o:p></span></p><p class=MsoNormal style='line-height:12.0pt'><span style='font-size:12.0pt;font-family:"Helvetica","sans-serif";color:black'><o:p> </o:p></span></p><p class=MsoNormal style='line-height:12.0pt'><span style='font-size:12.0pt;font-family:"Helvetica","sans-serif";color:black'>Guided by China as part of their export led growth strategies, other countries, particularly in Asia, are incentivizing U.S. companies to outsource their production, jobs, research and development to foreign nations. <o:p></o:p></span></p><p class=MsoNormal style='line-height:12.0pt'><span style='font-size:12.0pt;font-family:"Helvetica","sans-serif";color:black'><o:p> </o:p></span></p><p class=MsoNormal style='line-height:12.0pt'><span style='font-size:12.0pt;font-family:"Helvetica","sans-serif";color:black'>In a May 9, 2012 speech, AFL-CIO President Richard L. Trumka, warned that manufacturing jobs lost by outsourcing and the subsequent trade deficits are issues of national security, and he called for setting a national goal to balance our trade within five years. <o:p></o:p></span></p><p class=MsoNormal style='line-height:12.0pt'><span style='font-size:12.0pt;font-family:"Helvetica","sans-serif";color:black'> <o:p></o:p></span></p><p class=MsoNormal style='line-height:12.0pt'><span style='font-size:12.0pt;font-family:"Helvetica","sans-serif";color:black'>Setting and achieving a goal of balancing our trade will brighten our economic future by creating millions of good jobs in the United States of America. <o:p></o:p></span></p><p class=MsoNormal style='line-height:12.0pt'><b><u><span style='font-size:12.0pt;font-family:"Helvetica","sans-serif";color:black'><o:p><span style='text-decoration:none'> </span></o:p></span></u></b></p><p class=MsoNormal style='line-height:12.0pt'><b><u><span style='font-size:12.0pt;font-family:"Helvetica","sans-serif";color:black'>Action</span></u></b><span style='font-size:12.0pt;font-family:"Helvetica","sans-serif";color:black'><o:p></o:p></span></p><p class=MsoNormal style='line-height:12.0pt'><span style='font-size:12.0pt;font-family:"Helvetica","sans-serif";color:black'>The Democratic Party of Virginia resolves to lead in helping grow jobs in our Commonwealth and Nation by urging the United States Government to set a goal and commit itself to balancing our country’s trade account no later than January 1, 2020.<o:p></o:p></span></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><b><span style='font-family:"Bell MT","serif"'>Michael F. Dolan, J.D.<o:p></o:p></span></b></p><p class=MsoNormal><span style='font-family:"Bell MT","serif"'>Legislative Representative<o:p></o:p></span></p><p class=MsoNormal><span style='font-family:"Bell MT","serif"'>International Brotherhood of Teamsters<o:p></o:p></span></p><p class=MsoNormal><span style='font-family:"Bell MT","serif"'>Desk 202.624.6891<o:p></o:p></span></p><p class=MsoNormal><span style='font-family:"Bell MT","serif"'>Fax 202.624.8973<o:p></o:p></span></p><p class=MsoNormal><span style='font-family:"Bell MT","serif"'>Cell 202.437.2254<o:p></o:p></span></p><p class=MsoNormal><o:p> </o:p></p></div></body></html>