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President Pushes Manufacturing in State of the Union

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In Tuesday's State of the Union address (link opens transcript), President Obama listed the U.S. government's highest economic priority as "making America a magnet for new jobs and manufacturing."

Referencing the sector's decade-long decline, the president noted that manufacturers have added around 500,000 jobs in the past three years. Obama cited Caterpillar's (NYSE: CAT  ) and Ford's (NYSE: F  ) decisions to move jobs back from Japan and Mexico, respectively. He also nodded to U.S. technology companies Intel (NASDAQ: INTC  ) and Apple (NASDAQ: AAPL  ) for their recent decisions to manufacture some of their chips and computers domestically.

Looking ahead, the president lauded 3-D printing as an emerging business opportunity for America. Referencing a government initiative from August 2012, Obama noted that a "once-shuttered warehouse is now a state-of-the-art lab where new workers are mastering the 3-D printing that has the potential to revolutionize the way we make almost everything."

Obama concluded his remarks by announcing the launch of three additional high-tech manufacturing hubs, with a request to Congress for 11 additional centers to "guarantee that the next revolution in manufacturing is made in America."

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  • Report this Comment On February 12, 2013, at 10:53 PM, Drew9944 wrote:

    Obama and the US Government need to find a way to stop a long list of Asian countries from practicing "mercantilist economics" against USA, by which first Japan starting in early 1970s, and then Taiwan and now China and S. Korea have in the 2000s, have via keeping their currencies artificially low, been able to push American manufacturers out of business. SONY, Panasonic, and Samsung and other Asian manufacturers, from countries manipulating their currencies low, are responsible for the fact that RCA, the company that invented Color TV and so much else (including DVDs, RCA Labs made the first 'video-laser-compact-disc'), had to stop making TVs and stereos...etc. in USA. RCA's big factory was in Camden NJ, and Zenith's was in Chicago. Both towns now have high murder and crime rates, as a direct consequence of people going on welfare, thanks to Asian countries predatory manipulating their currencies low, so they only export to USA and make money off USA (and not vice versa). Until American Manufacturers are allowed a fair priced currency and fair tariffs to export from here to Korea and other parts of Asia, its hard to speak of a Manufacturing Renassaince in USA.

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