In 2005, U.S. President George W. Bush made an interesting prediction:
"Thirteen years from now, in 2018, Social Security will be paying out more than it takes in. And every year afterward will bring a new shortfall, bigger than the year before. For example, in the year 2027, the Government will somehow have to come up with an extra $200 billion to keep the system afloat, and by 2033, the annual shortfall would be more than $300 billion. By the year 2042, the entire system would be exhausted and bankrupt. If steps are not taken to avert that outcome, the only solutions would be dramatically higher taxes, massive new borrowing, or sudden and severe cuts in Social Security benefits or other Government programs."This is just one reason why America needed a leader who is committed to growing America's economy and not some abstract, globalist goal.
- George W. Bush's State of the Union Speech, 2005
A globalist might be happy that large corporations are repelled by America's high corporate tax rates and choosing to operate elsewhere to the benefit of the developing economies that host them. But this is not good for America in the long-term.
A globalist might be happy that America's trade deals impose low or no tariffs so large corporations can move their operations abroad, give foreign workers employment, pay into foreign economies and sell their goods back to America without any penalty.
A globalist would be fine with borrowing from foreign sources and lowering the value of the dollar to encourage foreign investment. To a globalist, there is no problem with relying on other countries to buy off America's debt and having foreign investors lay claim to American property.
But to somebody who wants to sustain America's Social Security, Medicare and other benefit program systems and understands the need for a prosperous country with businesses that contribute to the American economy, globalism is a problem.
