Ronald Reagan on Trade Deficits

Republicans have departed so far from Reagan’s legacy.

Ever since that time, the American people have stayed true to our heritage by rejecting the siren song of protectionism. In recent years, the trade deficit led some misguided politicians to call for protectionism, warning that otherwise we would lose jobs. But they were wrong again. In fact, the United States not only didn’t lose jobs, we created more jobs than all the countries of Western Europe, Canada, and Japan combined. The record is clear that when America’s total trade has increased, American jobs have also increased. And when our total trade has declined, so have the number of jobs.

A nation of immigrants

Ronald Reagan said

These families came here to work. They came to build. Others came to America in different ways, from other lands, under different, often harrowing conditions, but this place symbolizes what they all managed to build, no matter where they came from or how they came or how much they suffered.

They helped to build that magnificent city across the river. They spread across the land building other cities and towns and incredibly productive farms.

They came to make America work. They didn’t ask what this country could do for them but what they could do to make this refuge the greatest home of freedom in history.

They brought with them courage, ambition and the values of family, neighborhood, work, peace and freedom. They came from different lands but they shared the same values, the same dream.