United State Currency Denomination
The way to create jobs in the United States, according to the President Obama Export Initiative, is to double exports in the next five years. This export goal could support 2 million new American jobs, According to C. Fred Bergsten, Director of Peterson Institute of International Economics.
Bergsten in The Washington Post article of February 3, 2010, “How best to boost U.S. exports,” states that the U.S. sells nearly $1.5 trillion worth of goods and services annually to the world which creates nearly 10 million good paying jobs. Most significantly, maintaining a competitive exchange rate for the dollar with other countries, will help the U.S. in its drive to increase jobs and exports.
Get the Dollar Down and More American Jobs
"Every $1 billion of additional exports will produce about 7,000 very good jobs," points out Bergsten. Dan Froomkin in The Huffington Post, October 15, 2010, "Job-Creation Idea No. 10: A Lower Dollar Would Level The Playing Field," points out that a high dollar acts as a tax on U.S. exports and a subsidy for U.S. imports. The result is a terrible hit on American manufacturing jobs.
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