Obama Administration Pushing For Swift Passage of Free-Trade Pacts

[Cali_Democrat]

:banghead:

Obama Administration Pushing Swift Passage of Free-Trade Pacts
by Deborah Belgum Senior Editor August 19, 2011

The three pending free-trade agreements with South Korea, Colombia and Panama should be ready to be introduced to Congress soon after lawmakers return from their summer break on Sept. 6.

The Obama administration is pushing hard to get the accords approved, particularly after the European Union’s free-trade accord with South Korea was launched and Canada now has a free-trade accord with Colombia.

“The free-trade agreement between Europe and Korea went into effect July 1, and already Europe’s exports to Korea are up 17 percent in 45 days,” said U.S. Trade Representative Ron Kirk, who was touring the Port of Los Angeles on Aug. 16 aboard the Angelena II, the port’s 40-passenger harbor tour boat. Kirk was making a whirlwind tour through California, meeting with exporters in Los Angeles, San Francisco and Sacramento and trying to spread the word that free-trade agreements are, indeed, good for the United States.

He noted that these free-trade accords, signed under the Bush administration, would add $12 billion a year to the United States’ gross domestic product and increase U.S. exports by $10 billion to $11 billion.

http://www.apparelnews.net/news/manufacturing/110819-Obama-Administration-Pushing-Swift-Passage-of-Free-Trade-Pacts

This is some bullshit! :grr:

[DJ13]

1. The WH believes there can never be enough job creation

in other countries.

[Enthusiast]

16. They will not poll the American people

on this issue. The American workers can point to the passage of NAFTA as a turning point, a downward turning point. Why is Obama doing this? I think I know the answer.

[arcane1]

2. Free Trade can KISS MY ASS!!!!!!

Sorry, I got a little carried away there...

[Enthusiast]

17. You should be MORE carried away....nt

[OHdem10]

3. Where are all the jobs supposed to have been created by

Trade the last 30 years??? In the country where
Corporations with Allegiance to no one, can find
the cheapest worker.

First Mexico, then a large sucking sound--they gone
from Mexico to China, and other low to slave wage countries.

Here we sit in an economic crisis with our Mfg Base gutted.
Yes gutted.

How far along are we. We are supposed 40 million job
Dislocations before this job loss ends. Our Living
standards are being harmonized downward in order to
better compete with low wage countries.

Why is the Pres. having a hard time getting these Trade
Pacts passed. Have some Tea Partiers seen the light.
In the past the Republicans would have lined up and
bingo it would be over??? just asking??

[awoke_in_2003]

27. "standards are being harmonized downward"

they are dragging us back to the early 1900's, and very few are kicking and screaming about it. We have a dark time on our horizon. All of the things that unions brought us, and what too many americans take for granted, are going to be taken away. "Oh, that could never happen"- just take a look around, it is happening now.

[Cali_Democrat]

4. shameless self-kick

:kick:

[Maven]

5. President McCain strikes again!

[frylock]

6. of course they are..

this obama's big "jobs plan."

[Name removed]

7. Deleted message

Message removed by moderator. Click here to review the message board rules.

[brentspeak]

8. 'Change' that corporate offshorers can believe in

[Supersedeas]

38. I'm not sure than even they would define that as 'change' -- just more of the same

[Fearless]

9. Oh yes, he's working for the American people... two of them... named Koch.

[robcon]

10. Free Trade Agreements are the best source of economic growth and world peace.

Economics 101.

[onpatrol98]

11. Well orchestrated trade agreements

Our country hasn't gotten the knack of how to make them "mutually" beneficial without killing jobs. It is possible. But, they tend to drop the ball.

[Union Scribe]

22. And war makes stupid foreigners be Democrats!

[Name removed]

31. Deleted message

Message removed by moderator. Click here to review the message board rules.

[JoeyT]

12. Looks like he has a magic wand after all.

He has no problem pushing for stuff he actually wants. Too bad all the stuff he really wants usually sucks.

[Name removed]

13. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Name removed]

14. Deleted message

Message removed by moderator. Click here to review the message board rules.

[blkmusclmachine]

15. More "Change" you CAN'T believe in:

More like a pack of lies. Bald-faced ones, to boot. Anybody read what's in these pieces of excrement "Pacts"? Bad, bad, bad.. :nuke:

[alsame]

18. "Third Way Salutes Obama Administration and Congress for

Korea, Colombia and Panama Agreements"

Export Agreements Create Jobs and Protect American Workers.


Statement of Ed Gerwin, Senior Fellow for Trade and Global Competitiveness

“Today’s news is a welcome breakthrough on a series of trade agreements that will create jobs by breaking down barriers to American products and services. President Barack Obama, U.S. Trade Representative Ron Kirk and congressional leaders from both parties deserve credit for leading these negotiations and standing up for both American businesses seeking to export and American workers seeking protections. The Korea, Colombia, and Panama deals will mean that U.S. products will finally be treated fairly in those countries. The robust Trade Adjustment Assistance provisions make sure that the few who may not benefit will not be forgotten.

“It is now time to move forward and get these agreements through Congress. We believe these important export agreements deserve to pass with large bipartisan majorities, and we hope that narrow ideological issues and partisan gamesmanship do not derail this critical job creator.”


ETA link
http://www.thirdway.org/press_releases/161

[PurityOfEssence]

19. It's embarrassing to see how far he'll go to get Republicans to love him

All it does is whet their appetite for more. It's Pernicious Clintonitis, and it's terminal; Bill Clinton still thinks he can get the reactionaries to love him, too...

Someone please explain the benefit of these deals.

[Skittles]

33. he is licking their boots now

ugh

[Jakes Progress]

20. Got to get those tax havens in place quickly

in order to keep the billionaire and corporate contributions coming in.

[Union Scribe]

21. I guess the you-know-whos haven't found quite the right spin on this yet

since they're conspicuously absent.

[ProSense]

23. No need for spin, there

are enough facts on the subject.

Sherrod Brown:

WASHINGTON, D.C. – In the wake of a new agreement among Congressional leaders to extend Trade Adjustment Assistance (TAA) before passing three free trade pacts, U.S. Sen. Sherrod Brown (D-OH) applauded Majority Leader Harry Reid’s insistence on passing TAA first and called for swift passage of the Currency Reform for Fair Trade Act. This bipartisan legislation, authored by Brown and Sen. Olympia Snowe (R-ME), would crack down on Chinese currency manipulation.

“Extending Trade Adjustment Assistance is an important step to respond to job loss caused by foreign competition. But addressing unfair trade practices like Chinese currency manipulation can prevent job loss by ensuring a level playing field for American manufacturers facing a flood of cheap Chinese imports,” Brown said. “With up to 2 million jobs that may be hanging in the balance, Congress must take action immediately.”

Yesterday, Senate Majority Leader Reid and Minority Leader Mitch McConnell reached an agreement to vote on extending TAA before taking up free trade agreements with South Korea, Panama, and Colombia. In May, Brown led 41 U.S. Senators in urging President Barack Obama not to submit any free trade agreements until Congress agrees to extend a long-term extension of TAA. In June, Brown introduced stand-alone legislation to extend TAA for five years.

“It’s time to put American jobs and American workers first by assisting laid-off workers and standing up to currency manipulation and other predatory trade practices,” Brown said in June.

<...>

EPI: THE BENEFITS OF REVALUATION - Full revaluation of the Chinese yuan would increase U.S. GDP and employment, reduce the federal budget deficit, and help workers in China and other Asian countries (PDF)

<...>

Conclusion

If China were to revalue the yuan (or Renminbi) to its equilibrium level, and satellite countries followed suit, U.S. GDP would increase as much as $285.7 billion (1.9%), creating up to 2.25 million U.S. jobs, increasing total U.S. employment by 1.6 percentage points, and reducing the U.S. unemployment rate by at least one full percentage point. This growth would reduce the U.S. budget deficit by up to $71.4 billion per year. These full benefits could be achieved within 18 to 24 months. Over 10 years, full revaluation of the Chinese RMB and other satellite currencies would reduce the federal budget deficit by $621 to $857 billion.

Currency manipulation is also costly for China and other Asian countries that follow China’s lead. These countries are suffering from rapidly rising inflation which is undermining real wages and fueling asset price bubbles. The inflation rate in China reached 5.5% in May 2011; food and oil prices, which make up larger shares of budgets in China than in the United States, have been rising at double digit rates. Full revaluation by China and other currency manipulators such as Hong Kong, Taiwan, Singapore, and Malaysia could lower inflationary pressures and boost the purchasing power of their domestic workers, reducing the threat of future asset bubbles and cooling off these overheated economies. It would also rebalance growth in the global economy, helping to restore demand in the United States, Europe, and other countries where growth has slowed dramatically in the past year.

This is the reason for Vice President Biden's trip to Asia

[Name removed]

29. Deleted message

Message removed by moderator. Click here to review the message board rules.

[brentspeak]

30. You mean the "trade adjustment assistance" already proven to do squat for displaced workers?

http://www.nytimes.com/2009/07/06/us/06retrain.html

You mean that "trade adjustment assistance"?

And do you also mean China's currency manipulation practices which the Obama White House has all but stated that it will not do anything about since it has formally stated the other month that it http://blogs.abcnews.com/politicalpunch/2011/02/obama-administration-does-not-brand-china-as-currency-manipulator.html">absolutely refuses to acknowledge that China is, in fact, a currency manipulator which is helping to decimate America's economy?

And since you're quoting EPI as if you are some kind of EPI ally -- do you have any bold blue links which link to the EPI article explaining how the South Korean trade deal alone will cost the USA at least 159,000 good-paying jobs?

I have a non-bold blue link to http://www.epi.org/publications/entry/news_from_epi_free_trade_agreement_with_korea_will_cost_u.s._jobs">that EPI article, if that would help.

[Logical]

34. I agree, I was wondering where the main three are! I am waiting!

[KoKo]

24. I think it's sad. He doesn't seem to know any better.

He kissed up to Coburn and this week he got trashed by him...He sucked up to Boehner...and he stabbed him in the back.

Watched part of the Blitzer/CNN interview with him...and he looked very tired...worn out.

I thought that Podesta of "Center for American Progress" was going to guide him as to the Repugs backstabbing...but I guess he didn't listen or others caught his ear and CAP was forced out.

He just didn't seem to know what he was in for...or he knows and believes it. Whichever it's sad to watch this and live through it. :-(

[Marnie]

25. Of course swift. He knows if the public finds out they

will be extremely pissed.

[paparush]

26. Reporting Live from Bush's 3rd Term, We witness yet another blow to the American Worker.

A species, like many others, quickly becoming extinct.

[Vinca]

28. What drives me the most nuts is the provision for funding to aid displaced workers.

Call me crazy, but if our workers are being displaced how is this a good deal? Corporations will get more cheap labor, stockholders will cash in, average people will be flipping more burgers.

[libmom74]

32. And more than likely whatever

aid or funding will be subjected to cuts by the Gang of 12.

[paulk]

35. I'm not automatically opposed to free trade agreements

some are good, some not so good

I don't find knee jerk rejection a convincing position

instead of just posting "this is some bullshit", I would appreciate an argument from you as to why these particular
agreements are bad.

[Harmony Blue]

36. This isn't the 90's

The world at the time was open to the idea of free trade, but since then, every rational person realizes free trade is a way for corporations to leverage their weight as they see fit without regard for long term ramifications for short term profits.

It is ironic because the most successful capitalists in history took into consideration long term profits compared to the norm that is short term. Free trade deals are designed to maximize short term profits. /End.

[AzDar]

37. Be sure to listen for that giant sucking sound...

:grr: