As long as the U.S. continues to have huge trade deficits, the American jobs would continue to be off-shored and no net new jobs can be created. Spending billions of American stimulus dollars would end up stimulating foreign economies. It would be like taking wealth from the American workers and giving it to their foreign counterpart.
Traditional techniques such as tax cuts for the rich (fiscal policies), lower interest rates (monetary policies), and “buy American” (patriotic appeals) have failed to solve the problems.
In order to spur its economy and jobs, the U.S. “must” adopt, as its “mission,” bringing parity between its imports and exports. Secondly, it must help its trading partners understand the benefits of using their surplus American dollars to buy American products. The “Trade Equilibrium” so established would help multiply trade between countries, increase corporate profits, and create jobs.
Bhandari, Narendra C., "Trade Equilibrium, Jobs, & Stimulus" (2009). Faculty Working Papers. Paper 67.