Posted on 05/15/2015 12:03:20 AM PDT by 2ndDivisionVet
That free trade is advantageous to both sides is the rarest of political propositions – provable, indeed mathematically. David Ricardo did so in 1817.
The Law of Comparative Advantage has held up nicely for 198 years.
Nor is this abstract theory. We’ve lived it. The free-trade regime created after World War II precipitated the most astonishing advance of global welfare and prosperity the world has ever seen.
And that regime was created, overseen, guaranteed and presided over by the United States.
That era might be coming to a close, however, as Democratic congressional opposition to free trade continues to grow.
On Tuesday, every Democrat in the Senate (but one) voted to block trade promotion – aka fast-track – authority for President Obama, which would have given him the power to conclude the Trans-Pacific Partnership (TPP), a trade deal being hammered out with 11 other countries, including such key allies as Japan, Australia and Singapore.
Fast-track authority allows an administration to negotiate the details of a trade agreement and then come to Congress for a non-amendable up-or-down vote.
In various forms, that has been granted to every president since Franklin Roosevelt. For good reason. If the complex, detailed horse trading that is required to nail down an agreement is carried out in the open – especially with multiple parties – the deal never gets done.
Like all modern presidents, Obama wants a deal. But he has utterly failed to bring his party along.
It’s not just because for six years he’s treated all of Congress with disdain and prefers insult to argument when confronted with opposition, this time from Democrats like Elizabeth Warren. It’s also because he’s expended practically no political capital on the issue. He says it’s a top priority. Has he given even a single televised address?(continued)
(Excerpt) Read more at abqjournal.com ...
Free traitors tell us how great the free trade is at the same time supporting the progressive status quo.
This cannot be said enough.
I was being sarcastic.
I usually include a /sarc tag on my sarcastic remarks.
Charles says Obama has utterly failed to bring his party along, yet, he’s willing to blame the GOP if the deal falls apart. What the?
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