The fallacy of the 'Buy America' stimulus package

The New York Times reports that the 'Buy America' clause in the economic stimulus package that President Obama signed into law may not be as absolute as some would like to think. The clause includes language stipulating that products need not be made in America if "the relevant manufactured goods are not produced in the United States in sufficient and reasonably available quantities." That could offer some latitude for interpretation.

But the larger philosophical question is whether "Buy America" is really a good thing to aspire to, putting aside how warm and fuzzy it might make us feel.