Don't Discourage Overseas Investment

Just when it appears that the Clinton Administration has finally found the straight and narrow path down the middle, with proposals to reinvent government and reform welfare, something loopy pops out. Bubbling on low simmer is a memorandum by Labor Secretary Robert Reich to President Clinton that suggests that Washington penalize U.S. companies that invest overseas rather than at home. Reich argues that this kind of investment hurts exports and destroys well-paying jobs.

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