DETROIT (AP) - Republican presidential candidate John McCain told an audience Friday in an area hard hit by plant closings and job losses that he's optimistic about opportunities in a global economy even as he acknowledged it won't solve every worker's woes.
'Globalization is here, globalization is an opportunity, but globalization will not automatically (benefit) every American,' McCain said in a speech at the Hispanic Business Expo and Economic Summit.
'We must remain committed to education, retraining and help for displaced workers, regardless of whether their job went away because of trade, technological innovation or shifts in consumer spending patterns.'
McCain credited Hispanic entrepreneurs with helping to power the economy. He said nearly three quarters of Hispanic business owners 'staked their personal savings on their success,' and only 1.5 percent secured a government loan. That, he said, represents the lowest percentage of any group in the U.S.
He said that entrepreneurial spirit is important in Michigan, where automotive industry cutbacks have led to the nation's highest unemployment rate.
'Economic freedom is at the heart of our ability to transform tough times to boom times,' he said. 'We have succeeded in the past. We will do so again.'
McCain also used Friday's speech to sound broader economic themes, such as his support of repealing the alternative minimum tax and flattening the tax structure.
Source: http://www.forexfactory.com
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