In a follow-up to their groundbreaking cost study of a few years back (the one that showed we have a 22% cost disadvantage with our trading partners), the Manufacturing Institute in conjunction with MAPI found today that manufacturers continue to contend with crushing costs that hamper our competitiveness. “The main drivers” said study author Jeremy Leonard in a statement, “are soaring health and pension costs, high energy and material costs and misaligned exchange rates.” Like every manufacturer in America doesn’t already know this, we know. But it’s good to get it out in the public discourse.
Remember, too, that Congress has in its power the ability to address many of these issues. You need to keep weighing in with them and reminding them to work to reduce the cost manufacturing here in the US. And — very important — these aren’t wages we’re talking about. We don’t compete on the basis of wages in this country (are you listening, Lou…?). These are cost of energy — the highest in the world — legal costs — the highest in the world, and taxes and regulations.
Here’s a link to the study. Please download it and send it off to your Member of Congress and to both Senators, give them a little reading material during the recess, uh, District Work Period.
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