General Electric and its CEO Jeff Immelt have outsourced American jobs to cheap overseas labor markets and GEs focus on financial services over manufacturing and technology has not helped the American job market at all, in fact it hurt it big time.Immelt said recently the U.S. manufacturing base is hollowed out, the country has a $1 trillion trade deficit and the education system is not graduating enough engineering students to compete globally, he said, "We are not working hard enough to be exporters."

Immelt, in a letter to shareholders said the U.S. must return to its manufacturing roots. He said " moving the country away from manufacturing and towards financial services was wrong." Immelt said, "I believe that a popular, 30-year notion that the U.S. can evolve from being a technology and manufacturing leader to a service leader is just wrong. real engineering was traded for financial engineering. In the end, our businesses, our government and many local leaders lost sight of what makes a nation great. A passion for innovation."

CONFUSED? Me too because this comes from a person that has outsourced tons of GE manufacturing jobs overseas. India comes to mind as a major recipient of GE jobs. Another time he said that he has great hopes for India. What about great hopes for the U.S. there Jeff? It seems to me that GE is part of the problem and not part of any solution at this time. At the present it seems to be all yakin and no action.

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