It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
But the auto industry is not the only manufacturing sector taking a turn for the worse. American aircraft makers and industry leaders are also taking huge hits and watching profits dwindle. According to the International Trade Commission, the U.S. aerospace industry ran its first trade deficit in history. In the fourth fiscal quarter of last year the American aircraft industry ran a robust $11.4 billion surplus. This year, it ran a $5.15 billion deficit.
The aerospace and auto manufacturing industries have long been considered the backbone of America’s blue collar workforce. They employ hundreds of thousands of Americans both directly and indirectly, but over time their market share has dwindled due to unfettered overseas competition. When the financial markets collapsed last spring the orders which had been slowing were grinding to a halt.