This upcoming Sunday, the people of Venezuela will hold an election that, if legitimate, would put an end to years of the oppressive Maduro narco-regime. U.S. Senator Marco Rubio (R-FL) issued a statement in support of the Venezuelan people: “The...
Este próximo domingo, el pueblo venezolano tendrá una elección que, de ser legítima, pondría fin a años de opresión por parte del narco-régimen de Maduro. El senador estadounidense Marco Rubio (R-FL) grabó un mensaje de video en español y emitió una declaración en...
Twenty-three years ago, the United States was attacked by Islamic terrorists on September 11, 2001. Now, Zacarias Moussaoui, the only person convicted in a U.S. court for his role in the attack, has requested the U.S. Department of Justice to allow a prisoner transfer...
U.S. Senator Marco Rubio’s (R-FL) office will host virtual Mobile Office Hours next week to assist constituents with federal casework issues in their respective local communities. These office hours offer constituents who do not live close to one of Senator Rubio’s...
As the U.S. Department of Veterans Affairs (VA) opens up new facilities, many veterans are losing access to the VA’s Community Care Program and, consequently, their long-term healthcare providers. Veterans throughout the country have reported a loss of care, including...
The U.S.-India partnership is vital to countering influences from Communist China. In order to strengthen this partnership, it is essential to enhance our strategic diplomatic, economic, and military relationship with New Delhi. U.S. Senator Marco Rubio (R-FL)...
America’s Supply Chains Are Too Efficient. What We Need Is a Resilient Economy.
U.S. Senator Marco Rubio (R-FL)
May 23, 2022
Newsweek
…Supply chain disruptions are always an inconvenience, one that Americans are becoming increasingly familiar with…. And our society’s relentless drive for efficiency is to blame…. The sad truth is that for years, politicians, corporate CEOs, shareholders, and consumers alike have ignored the need for resiliency and redundancy….
30 years ago, foreign cheap labor and government subsidies made manufacturing less profitable in the U.S. As a result, under pressure to cut costs, industries began sending their factories and jobs abroad…. At the same time, our tax code encouraged companies to prioritize stock market gains over productivity and security….
Why didn’t we have enough masks or ventilators on hand for a pandemic? Why didn’t we have a buffer stock of baby formula? Because, as Professor Willy Shih of Harvard Business School explains, “Lower inventories, less cash tied up—these things make investors happy.” These things also make Americans more vulnerable.
It will take more than expanded inventories to make our economy more resilient, though. With supply chains stretched around the globe, we are vulnerable to the whims of other nations…. It’s an unsustainable situation, one that we must end by bringing critical supply chains back home….
This isn’t just about having goods on shelves, though that is important—it’s a matter of national survival. Large power transformers, for example, are key to America’s electric grid, but it might take “months, if not years” to build replacements. Having robust domestic manufacturing and a reserve stockpile could mean the difference between bad and catastrophic in the event of a future crisis.
Building a more resilient, productive economy is also about creating more stable, well-paying jobs…. These things cannot be quantified on a spreadsheet or summarized on a quarterly return, but they are foundational to the common good. And public policy should always seek to advance the common good, even if it makes us a little less efficient in the process.