President Barack Obama, notwithstanding the news that Minnesota Republican Michelle Bachmann slammed the Obama India visit due to the approximate cost of $200mn per day, started the weekend off on a positive note in India where NDTV reports that:
20 deals have been signed between the US and India worth $10 billion and these are expected to create over 50,000 jobs in the US. The deals range from gas and steam turbine engines to oil and gas equipments.
Aviation giant Boeing has got an order for thirty three 737s from Indian carrier Spice Jet. The deal is pegged at $2.7 billion and is likely to add 12,000 US jobs. The company has also reached preliminary agreement on the sale of C-17 engines. That transaction is valued at more than $4 billion and is likely to support 22,000 jobs.
Global engineering firm, General Electric is likely to get the contract for 100 engines to power India’s indigenous Light Combat Aircraft (LCA). The $800 million deal will lead to 44, 000 jobs in the US.
Hard to believe that Michelle Bachmann having recently won her re-election campaign couldn’t understand the enormous benefits associated from the Obama India trip where trade deals were sealed worth $10bn making the initial investment for travel and security purposes of an entourage of hundreds of people at only $200mn per day well worth even a greater cost in the presence of near double-digit unemployment and an anemic economy. Minnesotans may want to rethink Ms. Bachman’s recent re—election if she cannot reasonably come to the conclusion that creating 50,000 jobs through a $10bn trade deal while strengthening foreign policy and bilateral ties with an emerging super economy is worth the money spent.
Not surprisingly, when Michelle Bachmann was asked by CNN to identify specific cuts in the federal budget that she would support, she refused to identify any. Refused, or couldn’t? Apparently, Michelle Bachmann doesn’t want Americans to have opportunities.
On behalf of Headline Reviews, have a great weekend.