On May 12, Democrats in the U.S. Senate en masse rebuked President Obama and voted against fast tracking his Trans-Pacific Partnership treaty that would have been the virtual end of America’s economy. Standing against many Republicans in a 52-45 vote, the legislative body fell 8 voters short of giving Barack Obama full access to construct the treaty and limit its passage to a yes or no vote, without most members, nor the American people, even seeing what is in the accords.
Moments ago, in an embarrassing setback for the president, Senate Democrats in a 52-45 vote – short of the required 60 supporters – blocked a bill that would give President Barack Obama fast-track authority to expedite trade agreements through Congress, a major defeat for Obama and his allies who “say the measure is necessary to complete a 12-nation Pacific trade deal that is a centerpiece of the administration’s economic agenda.”
The passage failed after a leading pro-trade Democrat said he would oppose the bill: Ron Wyden, the top Democrat on the Senate Finance Committee, said he would vote no and his loss was a major blow to hopes of attracting a sufficient number Democrats to get 60 “yes” votes in the chamber.
According to Reuters, the Senate vote was one of a series of obstacles to be overcome that hinged on the support of a handful of Democrats. The White House has launched a campaign blitz directed at them in support of granting the president authority to speed trade deals through Congress.
Fast-track legislation gives lawmakers the right to set negotiating objectives but restricts them to a yes-or-no vote on trade deals such as the TPP, a potential legacy-defining achievement for Obama. – Zerohedge
The Trans-Pacific Partnership (TPP) is a historic treaty accord that would be even worse than NAFTA or GATT for the U.S. economy. And perhaps not ironic for the voters who provided Republicans control in the Senate this last election, it is GOP leadership under Majority Leader Mitch McConnell who is advocating the TPP, and desiring to give President Obama the same carte blanch power Nancy Pelosi gave to the Executive office during the passage of Obamacare.
It appears that nothing has changed in the past six months, and that the Republicans who informed voters that they were going to change the fascist policies of the previous four years are in fact now helping to increase them several fold. And it simply validates when many now know about the Oligarchy that reigns from Washington D.C., it is a big club and we (the American people) ain’t in it.
Kenneth Schortgen Jr is a writer for Secretsofthefed.com, Examiner.com, Roguemoney.net, and To the Death Media, and hosts the popular web blog, The Daily Economist. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.