Obama killed steel. Trump brought it back

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This is Don Surber's headline to this post:

No Trumpenfreude today. Sorry. Instead, enjoy the announcement from U.S. Steel that it has resumed construction of a 21st century electric arc furnace steel-making facility at its Tubular Operations in Fairfield, Alabama.

"U. S. Steel previously initiated construction of the EAF in March 2015 and suspended construction in December 2015 due to unfavorable market conditions," the company said.

Obama's socialism versus President Donald John Trump's capitalism. No contest.

U.S. Steel reported, "The investment to complete the EAF, which includes modernization of the existing rounds caster, is expected to be approximately $215 million and add about 150 full-time employees. The EAF will have an annual capacity of 1.6 million tons. Construction is expected to begin immediately and the furnace is expected to produce steel rounds in the second half of 2020."

Huge investment in infrastructure and 150 new well-paying jobs. Plus, all of those trickle-down new jobs too. The new employees are going to buy cars and recreational vehicles - more people will be needed to service and maintain them. New restaurants, new dry cleaners, new grocery stores.

This is called Capitalism and it works very very well. All other forms of government pale by comparison.

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This page contains a single entry by DaveH published on February 12, 2019 1:35 PM.

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