Thursday, September 15, 2011

Stop the job killing "free trade" agreements

I can virtually gurantee that there will be no new jobs for American workers if these pending trade agreements pass.  Your first clue this is bad for American workers is the U.S. Chamber of Commerce vigorously pushing for the passage of these trade agreements.  The second clue is the Republicans support these bills, they even put them in their do nothing jobs bill.  Quoting from the Republican Jobs Plan, page 6:

For more than three years free trade agreements with Colombia, Panama, and South Korea have sat idle, blocked by House Democrats’ political posturing. As President Obama said on January 27, 2010, “If America sits on the sidelines while other nations sign trade deals, we will lose the opportunity to create jobs on our shores.”
• Background: The independent International Trade Commission has estimated that implementation of the three pending free trade agreements would increase U.S. exports by more than $10 billion -- an increase that according to the Obama Administration, would create over 250,000 jobs.
We will pass three pending free trade agreements with Colombia, Panama, and South Korea. This will be a shot in the arm for businesses small and large and will create jobs. We will build on those successes by looking for other ways to expand
market access for U.S. made products while vigorously enforcing our rights to protect American jobs from unfair practices by other countries

The republicans are on the record saying they will do nothing that will help Obama get re-elected.  So, these trade bills will really create jobs?  And wow, 10 billion in extra exports, years in the future?  Last year US trade was over 2 trillion.  Here is a graph from Econbrowser showing how much of an increase that would be to our exports.  See that tiny red diamond, that's the 10 billion increase which will occur months in the future. 

Think the republicans would spend a whole page on their jobs bill plugging these trade agreements because they will bring 10 billion in extra exports?  Not likely, but if there is an opportunity to send our jobs offshore (South Korea,Colombia), develop new tax havens (Panama) generating billions for large corporations, then that would explain republicans enthusiasm for this project.  Another clue that there will be no net increase in jobs by the passage of this agreement is that almost every union in the country is against these trade agreements.  The unions would enthusiastically embrace any proposal that increases jobs in this country.  The Unions stiff opposition to these trade agreements is the final piece in the republican lie
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