Newsflash:
Dr. Syed Taj Trans Pacific Partnership New Fast-Track Bill Means Higher Trade Deficits and Lost Jobs
Saturday, 11 January 2014 02:13

New Fast-Track Bill Means Higher Trade Deficits and Lost Jobs

Written by  Dave Johnson | Campaign for America's Future

Senator Max Baucus (D-Mont.) and Representative Dave Camp (R-Mich.) have officially introduced fast-track trade authority legislation in Congress. Fast track is a process that bypasses Congress’ constitutional role in the treaty process. Fast track prohibits amendments to a trade treaty, limits Congress’ right to debate and requires an up-or-down vote (even though Senate Republicans have filibustered more than 400 other times since President Obama took office) within 90 days of the treaty coming before the Congress.

A number of Democrats as well as Republicans in the House have already stated objections to the fast-track process, so the bill faces an uphill battle. But the giant multinational corporations will push very hard to get this.

Lori Wallach, director of Public Citizen’s Global Trade Watch, said of the new legislation:

“Congress’ willingness to support Fast Track has declined markedly because ‘trade’ agreements have increasingly invaded Congress’ domestic policymaking prerogatives. On top of that, Democratic and GOP presidents alike have consistently ignored the negotiating objectives included in Fast Track, but the way the process is structured, Congress has given away its authority to do anything about it.”

United Steelworkers President Leo Gerard immediately released a statement that began:

“This is the wrong proposal at the wrong time. It is wrong for American workers and will only continue to take us further down the road in the wrong direction. Why on earth would we want to simply continue doing things the old way, when it’s resulted in rising trade deficits, more manufacturing job losses and greater income inequality?

“It’s time for a new approach to trade. Past negotiating objectives, with only minimal changes by the two Chairmen, are being offered as the basis for future trade policies. But today’s trade policies have fueled historic trade deficits and left our trading partners with bags of U.S. dollars and millions of American jobs. More of the same will only yield more outsourced and offshored jobs and shattered dreams.”

AFL-CIO President Richard Trumka in a statement said the labor alliance “opposes this legislation in the strongest of terms and will actively work to block its passage.”

2014 marks the 20th anniversary of NAFTA, which was only the first in a series of trade agreements that have undermined millions of middle-class American jobs and weakened our democratic structures. So it is ironic that this year the supporters of that failed model are bringing forward a fast track trade promotion bill to bring us more of the same: more trade deals that strengthen corporate power and CEO profits, while putting downward pressure on wages and opportunities for the rest of us; more outsourced and offshored jobs and more attacks on domestic health and safety regulations.

Note that fast track is not necessary to pass trade agreements. Even without fast track, President Clinton was able to implement more than 130 trade agreements, including granting most-favored-nation status to China. This is all about setting up a process that enables the giant multinational corporations to push through the coming Trans-Pacific Partnership trade agreement.

Previous trade agreements have enabled the giant multinational corporations to move jobs and factories out of the country, saving on labor and environmental protection costs. This has caused American wages to drop and inequality to rise to terrible levels. These “free-trade” agreements have led to incredible, humongous, enormous trade deficits, draining more than $540 billion of “demand” from our economy in 2012. This is the core reason unemployment is high and the economy is having such trouble recovering.

Imagine if our country’s factories and businesses had an additional $540 billion of orders in 2012. Think about how many people would have been hired to fill those orders, how many factories would be humming, how many suppliers would be prospering. THAT is how to understand the loss of that $540 billion in orders resulting from the trade deficit.

But hey, even though American wages are falling, unemployment is high, job growth is meager and the economy is struggling as a result of these trade agreements, the giant multinational corporations are doing great.

Public Citizen has an action alert out. Click through to “Write Your Representative to Vote ‘No’ on Fast Track Trade Authority.” The Coalition For a Prosperous America, representing “manufacturing, agricultural, worker, consumer and citizen interests,” also has a page you can use to tell Congress to vote against fast-track trade authority.

This work is licensed under a Creative Commons Attribution-Share Alike 3.0 License.

Link to original article from Campaign for America's Future

Read 4797 times

Latest News from the Taj Campaign

  • Learned about Taj (letter to the editor)
    Learned about Taj (letter to the editor)

    I was anxious to attend the League of Women Voters Candidate Night because like so many other people in the new 11th District, I knew little about either of the major party candidates. I sat with more than 100 other voters and waited for Kerry Bentivolio to arrive.

    Written on Thursday, 01 November 2012 22:15 Read more...
  • Blue America Preview: Dr. Syed Taj
    Blue America Preview: Dr. Syed Taj

    With the open seat, Dr. Taj has a more than favorable chance to win. His opponent is Kerry Bentivolio, reindeer rancher, failed business owner and part-time actor who has never held elected office. He has strong ties to libertarian financiers and Tea Party activists but has been ostracized by the Republican Party establishment, having taken large donations from Liberty for All Super PAC, affiliated with Ron Paul.

    Written on Sunday, 21 October 2012 12:48 Read more...
  • Syed Taj: Democrat hopes voters will put a doctor in the House
    Syed Taj: Democrat hopes voters will put a doctor in the House

    He may be a Democrat in a largely Republican town, but don't tell that to Canton voters.

    Dr. Syed Taj finished fourth out of six candidates in 2008 to win a seat on Canton's Board of Trustees -- the first Democrat elected to the board in recent memory and the only Democrat on the seven-member board.

    Written on Monday, 15 October 2012 19:17 Read more...
  • Interview with Mark Maynard
    Interview with Mark Maynard

    We also talk economics and tax policy. We can’t just continue to cut our way to prosperity, Taj says. We continue to fire public employees, he says, and that not only impacts quality of life, but it negatively impacts consumer spending.

    Written on Sunday, 14 October 2012 00:00 Read more...
  • Syed Taj Says He's "on the radar"
    Syed Taj Says He's "on the radar"

    The sudden resignation of Rep. Thad McCotter led to a tumultuous Republican primary in Michigan's 11th District, but the fallout may also mean a competitive general election for a seat thought until recently to be safely in the GOP column. At least, that's what Syed Taj is counting on.

    Written on Wednesday, 15 August 2012 00:00 Read more...

PDA In Your State

Sign the Petition - Sen. Sanders Run as a Democrat in 2016

Button-SandersPetition

MI Endorsed Candidate

Dr.TajSmall 

MI-11 Dr. Syed Taj
http://www.tajforcongress.com

Lori Wallach on the TPP from PDA Progressive Roundtable

Progressive Roundtable with Reps. Ellison and Pocan and Lori Wallach on TPP

TPP: The Biggest Threat to the Internet You've Probably Never Heard Of