“We have been one of the only industrialized nations without a national manufacturing strategy, and we have paid the price. A declining manufacturing industry jeopardizes our economic recovery, our energy security, our national defense and the strength of our nation's middle class,” wrote Sen. Sherrod Brown (D-OH) in an op-ed published Sunday.
“In the 1980s, manufacturing made up 25% of our economy while financial services comprised 11 to 12%. Sometime in the 1990s, the shares of the two industries crossed paths. In 2004, manufacturing was just 12% of GDP, while the financial services industry grew to about 20%.”
Brown, in his first term as U.S. Senator, is up for reelection this November. His opponent is State Treasurer Josh Mandel (R-OH).