The Phaserl


TPP Debate Heats Up as Obama Pushes for Fast Track

by James Corbett, The International Forecaster:

Even a broken clock is right twice a day, and every now and then even the occasional Congress critter comes down on the right side of an issue…as long as it affords them some political leverage, that is.

Such is the case in the current fight over “Trade Promotion Authority,” an obscure piece of legislation that is now at the heart of the debate over Washington’s ratification of the Trans-Pacific Partnership (TPP).

Trade Promotion Authority, or “fast track negotiating authority” is an authority granted by Congress that allows the President to present trade agreements to Congress for approval or rejection, and stops the treaty from being filibustered or amended. This authority is needed because Congress is in fact given all authority to regulate “commerce with foreign nations” and “lay and collect taxes, duties, imposts, and excises.” The idea (supposedly) is to give the President “added leverage to negotiate trade agreements by effectively assuring U.S. trade partners that final agreements will be given timely and unamended consideration.”

Read More @ The International Forecaster

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1 comment to TPP Debate Heats Up as Obama Pushes for Fast Track

  • rich

    The One Percenters’ Tax Loopholes and Unindicted Frauds: Audacious Oligarchy

    Langone is a walking, squawking, self-delusional example of the credibility trap in action. And he is certainly not alone. He has a lot of brothers among the uber-wealthy, and kissing cousins in the Congress and politicians in general, and throughout the media, think tanks, and universities.

    This is why there will not be any kind of meaningful internal reform until the people clip the wings of the moneyed interests from buying elections, and politicians, and the networks.

    And this should be an object lesson to any people overseas who think that the terrible consequences they have suffered endured from the exports of fraudulent paper and practices of the Anglo-Americans over the past ten years have changed.

    They have not. And the utterly distorted, unrepentant, and unreformed world view of the unfortunately powerful one percent is the reason. Why stop when you are winning…

    Here is a link to the interview on Bloomberg in case the embedded version is not working for you.

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