Warren Critique Deepens Trade Spat Between Obama, Democrats

[Jesus Malverde]

A rift widened between President Barack Obama and liberal Democrats in Congress over trade as he and Senator Elizabeth Warren renewed their gripes a day before a key vote on a potential deal with Pacific nations.

Warren disputed assurances Obama has given on the Trans-Pacific Partnership agreement, warning of dangers to consumer, health and labor protections in U.S. law under potential trade deals. She argued that fast-track negotiating authority Obama seeks would help Wall Street roll back rules imposed on banks after the 2008 financial crisis.

Her remarks, in a Washington Post interview published Monday, came after Obama called her “absolutely wrong” and said she and other Democratic opponents of the trade deal were living in the past.

“Whatever the Obama administration has committed to won’t bind the next president.”

Democratic opponents of the agreement have focused on maintaining protections for workers and consumers. Warren has argued that Obama’s successor might use the trade promotion authority to undermine the Dodd-Frank financial regulatory law by including provisions to harmonize capital standards or leverage ratios in a way that helps big banks.

http://www.bloomberg.com/politics/articles/2015-05-11/trade-spat-between-obama-democrats-deepens-with-warren-critique

“The truth of the matter is that Elizabeth is, you know, a politician like everybody else,” he told Yahoo News. “And you know, she’s got a voice that she wants to get out there. And I understand that.”

[Jesus Malverde]

1. Not enough votes?

Also on Monday, the second-ranking Senate Democrat raised doubt there were enough votes among Democrats to propel the fast-track bill over a procedural hurdle on Tuesday.

"At this point it's very questionable" that Senate Majority Leader Mitch McConnell, a Republican, can get the 60 votes needed to limit debate on whether to formally bring fast track onto the Senate floor, Dick Durbin said.

McConnell has until mid-afternoon on Tuesday to find those votes in the 100-member Senate.

Obama, in an unusual alliance with congressional Republicans, says the pact would open new markets around the Pacific Ocean for U.S. goods. Many Democrats fear the deal will hurt American workers.

https://ca.news.yahoo.com/senator-warren-hits-back-obama-pacific-rim-trade-161148260--sector.html

[RiverLover]

2. The fact that Boehner is pushing hard for this deal says it all.

It is NOT good for our country.

Thanks for posting!