I watched Senator Rand Paul's announcement that he was running for president.  He had good goals, but his economic ignorance was dismaying.  For example, he argued that allowing American corporations to bring back profits from overseas at a low tax rate would encourage investment in American manufacturing.  Exactly the opposite.  Doing so would not only make outsourcing more profitable, but it would also bid up the exchange rate of the dollar (American corporations would convert foreign profits to dollars), which would put even more American manufacturing workers out of work. Several of his goals were excellent: Balanced Budget.  He called for a balanced budget, one of the requirements for stable economic growth.  Unfortunately, balancing budgets can cause recession unless monetary growth and trade are also balanced.  Bringing Back American Manufacturing.  He called for increasing U.S. manufacturing jobs. ...(Read Full Post)