Fast Track Is Dead

A major victory occurred on June 30. Fast Track trade authority died. We do not always get to announce good news. But this is very good.

Fast Track was a law that trumped the U.S. Constitution. The Constitution says that Congress approves foreign treaties and foreign commerce. Thousands of treaties have been approved and rejected by Congress in the past.

But multinational globalist companies and their lobbyists came up with a way to slam new trade deals through Congress.

They convinced Congress to give up its authority to debate and amend treaties. Using pro-free trade rhetoric, they said Congress should only be able to say yes or no to a trade agreement negotiated by the U.S. Trade Representative, but should not be able to change it. NAFTA, CAFTA and several other trade agreements were passed this way.

Since Fast Track, the U.S. has signed trade agreements that have caused us to go from the biggest trade surplus country to the biggest trade deficit country. We buy/import more than $2 billion per DAY more than we sell/export.

How do we pay for these extra imports? By selling off our assets - cash, real estate or companies – to foreign interests. This cannot continue if the U.S. is to remain a superpower. Some are uncomfortable with U.S. superpower status, but virtually all agree we would rather it be us than China.

Why did Fast Track die? Because many new congressman were elected in November 2006 on fair trade issues. They told the Democratic leadership that they would not vote for Fast Track because if they did, they would not be re-elected. The Republicans and the Democratic leadership generally, with some exceptions, have been radical free traders. A shifting bloc of Republicans have voted against trade agreements. The Democratic “Newbies” are the new force to prevent the deals from proceeding.

Take a bit of time to celebrate the peaceful death of Fast Track. After years of bad news, you deserve it.MS