President Obama, in his State of the Union address, spoke passionately of bringing manufacturing back to the US, of bringing in particular high-tech manufacturing back.
An America that attracts a new generation of high-tech manufacturing and high-paying jobs. … So we have a huge opportunity, at this moment, to bring manufacturing back. But we have to seize it…. It’s not fair when foreign manufacturers have a leg up on ours only because they’re heavily subsidized. … And this Congress should make sure that no foreign company has an advantage over American manufacturing when it comes to accessing finance or new markets like Russia. Our workers are the most productive on Earth, and if the playing field is level, I promise you—America will always win.
Republicans have been pushing for this—both manufacturing and dealing with economic cheaters—for quite some time.
…if you’re an American manufacturer, you should get a bigger tax cut. If you’re a high-tech manufacturer, we should double the tax deduction you get for making products here.
This has been a campaign theme of Senator Rick Santorum, in particular, for some time (although, let’s not forget that Obama’s tax plans aren’t entirely beneficial—he still demands to raise taxes on those groups of which he disapproves).
He also wants to boost domestic energy production.
Nowhere is the promise of innovation greater than in American-made energy. Over the last three years, we’ve opened millions of new acres for oil and gas exploration, and tonight, I’m directing my Administration to open more than 75 percent of our potential offshore oil and gas resources. Right now, American oil production is the highest that it’s been in eight years. That’s right—eight years. Not only that—last year, we relied less on foreign oil than in any of the past sixteen years.
But with only 2 percent of the world’s oil reserves, oil isn’t enough.
This has been the push of Republicans for years. The complaint has been about the Obama administration actively interfering with domestic energy production, from slow-walking offshore drilling permits (after an outright ban following the BP spill) to nixing the Keystone XL pipeline that would have brought Canadian oil into the US—North American, if not domestic.
I won’t go (far) into fact checking Obama’s claims in that segment (like that 2% claim, which actually refers to the amount of oil that is recoverable at current prices and under lands currently available by Federal fiat for development. In fact, according to the Institute for Energy Research, the US has more than 1.4 trillion barrels of recoverable oil, more than the rest of the world (excluding North America) combined). It’s enough that Obama is, apparently, embracing another Republican policy.
All this comes against the backdrop of Obama’s failed economic policies. He chose not to address the budget disaster in his SOTUS, and he’s chosen to ignore it in his re-election campaign these last several months. Beyond this, Obama’s Progressive Congress approved $4 trillion worth of economic stimulus via deficit spending, spending which has supported historically high unemployment rates for historically long periods, and which spending has suppressed the cyclical economic recovery that’s been struggling since spring 2009 when the present recession “ended.” Further, in these last three years the national debt has exploded to more than $15 trillion, equal to the nation’s whole GDP.