Political Quotes

“Earlier today in Columbus, OH, the State capital of my great State, I was at the Ohio State University's Fisher College of Business. We talked by phone with Under Secretary of Commerce Francisco Sanchez, who is one of the leaders at the Department of Commerce, on how to grow exports in this country. The President has charged the Congress, our businesses, encouraged all of us to find ways to double exports as a major path to economic growth, especially to grow manufacturing in our country. We know that for the last several months, we have seen manufacturing growth, albeit too small, but manufacturing growth in this country. That is especially important in Ohio. My State is the third leading manufacturing State in the country, behind only California and Texas, States which are two and three times our size in population. Yet Ohio has kept pace with doing relatively well in manufacturing. But we know what has happened to manufacturing in our country in the last 30 years. Only 30 years ago, manufacturing was more than one-quarter of our GDP, financial services was about 10 or 11 percent of GDP. In these 30 years that position has almost flipped. Financial services is over one-quarter of our GDP, manufacturing is only 10, 11, or 12 percent. That is why the President and his push on exporting is so important, not that we only export manufacturing goods, of course, we export services, as we should. But clearly manufacturing is a major component of that.”