On the recordJune 30, 2005
not that long ago, for the average American, our world was not a threatening place. Not long ago, there was little reason for the average American to feel anxious about the future. The United States was the only superpower; our economy was enjoying record growth and job creation. Those things are no longer true. The rise of terrorism, the war in Iraq, international economic competition from new sources like China and India, as well as increased economic insecurity here at home-- together these forces have cost us a lot of our optimism, a lot of our self-confidence. We are a people whose birthright is a belief in a better future, a belief in our ability to control our own fate, at home and abroad. That is our national character. But these days, our character is being tested. Even in the best of times, trade legislation has been a touchy subject. These days, it can be among the most contentious issues we confront. Our trade deals carry the freight of our insecurities, economic and otherwise. They carry our worries about our place in international competition, about job security, about losing our grip on our standard of living. There are real reasons that Americans are worried these days. Studies by the Federal Reserve and others confirm that income mobility--the opportunity for children to do better in life than their parents is declining, approaching the levels of more static, developing economies.…
Source
govinfo.gov




