Posted on 04/10/2008 9:22:08 AM PDT by shrinkermd
Most economists agree free trade is a boon to the U.S. and a pact with valued ally Colombia is vital. “There’s perhaps no more important free-trade agreement in recent memory,” Secretary of State Condoleezza Rice warned at a White House briefing Wednesday that included six Bush Cabinet members.
News of Pelosi’s threat to change the House rules to block any vote at all on Colombia’s pact drew them into the swiftly arranged appearance because this is urgent.
But as bad as Pelosi’s maneuver is, it signals she probably is afraid.
On Monday, President Bush forced the treaty to a congressional vote and Pelosi fumed, wanting to stall it until Bush was out of office.
But more importantly, a vote probably would win because too many Democrats know what free trade is: ending foreign tariffs on U.S. goods sold overseas, legal protections for U.S. investors and new markets for U.S. workers and their companies.
In Colombia’s case, tariffs on Colombian goods coming to the U.S. already are virtually nil. But under a free-trade deal, U.S. firms will see tariffs slashed. The U.S. will gain $2.5 billion in the first year alone — and just as recession beckons.
For politicians of all stripes, this is a bread-and-butter issue that costs nothing and would be stupid to reject. Pelosi herself must realize this, because running away from a vote is not the same as voting “no.” She knows it’s less about objecting to Colombia’s human rights or labor record than it is about Big Labor and influential Democrats who have loudly condemned it.
(Excerpt) Read more at epaper.investors.com ...
Lowering taxes is a good thing, even when people try to pretend that they are not taxes by calling them tariffs.
Worst Congress EVAH continues to damage everything that helps this economy. They need to pay for this.
“Free trade” has been a catastrophe.
The American public hasn’t benefitted from this - just a select spectrum of one-worlder globalists like the man in the White House and his Congressional henchmen in both parties.
“Free Trade” is in part responsible for the collapsing American dollar, the rise in the price of oil and food, and the threat of national economic collapse. I hope through some miracle the Colombian Free Trade Scam is stopped dead in its tracks.
“Liberals” sure do like to stick it to poor people. If you live in a lesser-developed country, the American political compassion crowd is your worst enemy.
Tariffs are called blockades in wartime. Whether self-imposed or imposed by an enemy, the effect is the same.
Yeah, right. Perhaps a return to the days of Smoot-Hawley would fix things right up.
Coloumbia is the last ally we have in South America, not passing this agreement is insane.
If we set up ours like China's can we get their growth rate?
Agree.
The fat cat wealthy elite love it low wage Red Chinese labor, as they pay off the ruling elite in this country to keep that endless flood of illegal low wage labor flowing into America. Ship jobs overseas for low wage 3rd world labor, while flooding this country with the same thing.
If this isn't a country killing recipe for utter disaster, nothing is.
Herbert Hoover convert a 1 or 2 year recession into a 3 or 4 year depression, when he signed the Smoot-Hawley Tariff Act, in 1930.
FDR followed up with a whole laundry list of stupid government interference, that converted the 3 or 4 year depression he inherited into The Great Depression.
Looks like Hillary and Obama each want to play both the Hoover and FDR roles, in creating Great Depression II.
I listened to the ending of the debate. Two points stand out.
First, references were made that we import most of Columbia’s items duty free but they place a duty on ours. No speaker pointed out why Columbia would require an act of our Congress to reduce their tariffs on our products. It seems they could do that themselves.
Second, many talked about the effect on jobs but no one referred to any job impact study that was made. This is a hurdle because past trade agreements similarly posited have not produced the promised good paying jobs.
BOTH political parties have conspired with the past three Presidential adminsitrations to rape the American public economically.
Oh, those greedy corporate fat cats!
Oh, the poor oppressed proletarians!
OK. You are a huge proponent of regressive tax hikes. I get it.
You mean that if the value of the foreign goods the American Public buys exceeds the value of America’s exports, resulting in a net debit with respect to trade, this has nothing to do with the value of the dollar?
I believe that the government overspending contributing to the problem - no doubt, but I find it hard to believe that our export - import picture has noting to do with the problem.
Isn’t the situation analogous to an individual spending more than they take in? If you replace the individual with an entire nation, it would seem to me that the basic principle is the same. The only difference is the nation can start printing funny money, in an attempt to rectify the net loss, resulting in more of that currency in circulation which depreciates its value.
Where is that thinking wrong?
” I don’t know anything about Smoot-Hawley. “
Stop right there. There’s your problem. I will agree wholeheartedly with you about the illegal immigration issue, and regularly call the White House to complain about it, and regularly apply all the pressure I can everywhere I can. But when I hear anybody on this site sit and complain about the “rising cost of everything” and maintain that the “Gub’mint’s got to do sumpin’ about it”, and they don’t know anything about the Smoot-Hawley tariffs and their impact on the economy of this country, I have to call them on it. You don’t even have to waste a night at the Liberry; go Thou forth and Google till the Dawn’s early Light, and learn Thou why Thou canst not tax thy Way to Prosperity. Free trade allows people to do what they can each do most effectively. It also requires change, since change is an inherent part of growth. Capitalism requires the best of people; it feeds on innovation, and rewards ingenuity and ambition. If you want to have everything stay the same and be predictable, live in a Communist world where everything sucks as much as it did yesterday and will tomorrow.
” Second, many talked about the effect on jobs but no one referred to any job impact study that was made. “
Oh, Goody. Let’s have a Study. Let’s not vote for something that will get rid of a foreign tariff on American goods, making them easier to sell, let’s have a Study.
HMMMM.....
Thinking.....
Still thinking.......
Wait, WAIT, I need a MINUTE HERE!?!.....
Um, No.
Get real. Columbia can get rid on the tariff on us anytime they want, just as we did for them.
” Get real. Columbia can get rid on the tariff on us anytime they want, just as we did for them. “
Therefore, we should not approve the treaty which would remove the tariff? Your logic is eluding me.
I don't see how their subsidizing our consumers helps them in the long run.
It is called predatory pricing and is designed to drive your competitors out of business. The Chinese are betting billions on it working.
I really don't think so-called managed trade, i.e., attempts by central governments to manipulate the free market, work in the long run. Look what happened to Japan Inc.
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