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Obama's Weird Idea of Auto Industry Rescue: Use Our Money to Build Car Factories Abroad

Can someone explain how outsourcing the auto industry is in our national interest?

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President Obama has taken an important step toward changing this system with his recent proposals for taxing U.S. multinationals more aggressively. That could be the start of something big -- a more effective strategy that defends the national interest in the global system. Or it could be just more good talk. The outlines of the auto deal suggest the president is sticking with Rubinomics. Will other Democrats be brave enough to stand in his way?

William Greider is the author of, most recently, "The Soul of Capitalism" (Simon & Schuster).