What I have heard from several different sources is that the unemployment rate among high school graduates is ~ 15%, among college graduates is 4%, and among people with graduate degree is ~ 2%. In fact, US has a shortage of high-tech labors and we have to issue a lot H-1Bs every year to get them from abroad. The real impact of outsourcing manufacturing is the loss of blue collar jobs. And that can not be purely fixed by improve education, the only short term solution is for the government to provide subsidies, or more extremely, to fight a currency war with China(which is a double edged sword in itself) to bring back some manufacturing jobs.
"Education in the US is a scam." - Many people are waking up to this.
"I paid off over $30,000 in useless loans." - Wrong! That $30K bought you access. The writing on the ticket might not mean much now but it was a ticket nonetheless. And for better or for worse, these days everyone needs a ticket. A freind of mine is a gifted financial advisor and I'd trust my money with him before any MBA. But he struggles for acceptance sometimes because his industry decided arbitrarily that everyone must have a ticket, even if that ticket denotes "Basket Weaver".
I did a little better than $30K. My ticket cost me $6K. So the questions then become: How much will future parents be willing to shell out for a ticket? And will we as consumers be willing to do business with people who never got their tickets.
TJ Rogers is an F-in hypocrite. Cypress Semiconductor, Intel, Motorola, National Semiconductor, Fairchild and many others would not exist and TJ would not be wealthy today had the US government not subsidized the Semiconductor Industry all through the 1960's, 70's and 80’s. This is so typical of people of his ilk. Government subsidy is justified to the point it makes him rich, then when its time to pay it forward he becomes a "free marketeer". What an irrelevant old gas bag.
To the commenter who needs to be "unleashed". There isn't one technology in this country that didn't start out as a defense department technology or was heavily subsidized by the US government. You "free Market" dweebs are really ignorant of how America has advanced over the last 150 years.
"advanced manufacturing"? That brings me the memory of "Robots doing manufacturing work in a factory". It leads even more reduction of human labor. But it may be able to stop outsourcing oversea... Because Robots can work 24 hrs a day and might be cheaper labor than human.
The other commenter had it right: do what Germany does. Tariff things we don't make to subsidize education and the things we want to make. Put a 50% duty on consumer electronics, none of which is made here and very little is designed here. So your telephone contract is 3 years instead of 2 years. Big Deal. Use the money to pay off student loans for scientists and educators. Subsidize advance nascent technologies and in-country manufacturing. Most consumer electronics are unnecessary toys anyway(no one dies if they don’t get a Galaxy 2S), so the suckers that really want or need this crap will pay what ever the price is to get it. Win-Win. Also Cutting the corporate tax rate from 35% to 15% and raising the dividend and cap gains rate from 15% to 35% wouldn’t do any harm either.
The true issue is...Americans send our manufacturing overseas for 2 BIG reasons – both not ethical.
1. Higher Profit Margin (at all expense…safety……quality…authenticity…)
2. Cheaper sale price (we say we don’t support slave labor – but we purchase product that was built by people being paid slave salaries)
Greed has finally gotten the better of us.