In the 1990s we saw unprecedented growth in our economy—the kind of growth we’ll probably never see again in our lifetime—due in large part to the explosion of the high tech industry.  We’re now seeing that many of these high tech companies were overpriced, and our financial markets are adjusting to the shakeout of these companies.  I’m hopeful that this adjustment is nearing an end and that economic expansion will again take hold.  

One thing I am concerned about, however, is how our country is rapidly becoming an economy based on services—banking, retail, fast food, Internet services, cell phones, pagers, and so forth.  These services are a vital part of our economy.  However, I believe for our economy to continue to grow, we must focus on maintaining our industrialized, or manufacturing, base.  And we must find ways to be competitive in the global market place through fair trade, rather than free trade.  I recognize we live in a global economy, and I support trade.  But the movement in recent years toward free trade has resulted in the largest trade deficit this country has ever seen and has facilitated the dumping of foreign products such as Canadian softwood lumber, steel, and Vietnamese so-called catfish into places like Arkansas.  

During the month of August, I have toured poultry processing plants like Tyson’s in Pine Bluff, a catfish processing plant in Lake Village, the Cooper Tire plant in Texarkana, and others.  While I am excited to see manufacturing jobs alive and well in the Fourth Congressional District, unfortunately, too many plants have shut down and too many jobs in our area have already been lost to other countries.   I am working to make sure that we not only keep these jobs, but also create new ones for the people of the south Arkansas.