In President Obama’s meeting with Senate Democrats today, Senator Sherrod Brown (OH) pressed the president on why the United States does not have a manufacturing policy. Senator Brown was right to raise the question.
First, manufacturing is critical to the economy.
Largest multiplier. Manufacturing has the largest multiplier of all sectors of the economy. Every dollar in final sales in manufacturing products supports $1.37 in other sectors of the economy. By contrast, the financial services sector generates only