Chris Dodd: “There has been a report in Time magazine that indicates we are looking at, some indicate over the coming years as many…”

“There has been a report in Time magazine that indicates we are looking at, some indicate over the coming years as many as 14 million, 15 million jobs to be outsourced if we do not begin to do something about it. In the near term, I think the number is between 3 and 4 million with a loss, by the way, just looking at revenue loss, of wages lost--forget everything else, forget what happens when a person loses their job and the ripple effects that occur--just in lost wages it is about $140 billion. We know what kind of budget deficit we are in already. I don't think this figure has been projected onto those numbers at all. A loss of $136 billion to $140 billion in wages, lost because of outsourcing over the next decade or less, ought to be a matter of deep concern.”