Senator Ron Wyden (D-Ore.) the ranking member on the Senate Finance Committee, is getting pressure from both liberals and conservatives to oppose Fast Track, while crony corporate interests step up lobbying for Obama’s trade agenda.
According to the Congressional Budget Office, the U.S. government will reach its borrowing limit in October or November, after exhausting emergency measures to keep the debt below the limit as long as possible. Without the emergency measures, the growing federal debt would hit the ceiling by the middle of this month. But Republicans who had hoped to use the debt ceiling debate as leverage to pass spending cuts were disappointed to learn that Senate Majority Leader Mitch McConnell has already assured the Dems that the GOP would not threaten a default or government shutdown.
Late last week, Senator Jim Inhofe tossed a snowball at a colleague on the Senate floor as a visual rebuttal to claims of global warming.
Even as the Fed is churning out new money by the hundreds of billions and making secretive deals with other central banks, local bankers are joining together to fight Kentucky Senator Rand Paul’s “Audit the Fed” legislation.
The U.S. taxpayer-backed Export-Import Bank (Ex-Im), widely criticized for crony capitalism as well as for financing communist and socialist regimes with American money, is fighting for its very survival amid scandals as a growing coalition of lawmakers in Congress works to finally shut it down. From funneling billions in “loans” to state-owned banks in Russia and Communist China, to offering the corrupt Brazilian state-owned oil giant Petrobras $2 billion to “develop oil fields,” to hiring politically connected “green energy” cronies, the bank’s activities have come under increasing criticism. Now, with its charter set to expire this summer without congressional action, the Ex-Im bank — originally created to subsidize U.S. exports to the mass-murdering regime ruling the Soviet Union — is sparring with the American people’s elected representatives.
The House of Representatives voted 270 to 152 on Wednesday in favor of the Keystone XL oil pipeline legislation. However, without the necessary two-thirds majority, or 281 votes, it is likely President Obama will veto the bill, setting the stage for the first veto showdown between Obama and the Republican-controlled Congress. Representative Justin Amash of Michigan was the only Republican to vote against the legislation, citing concerns over the bill’s “cronyism.”
To get passage of a trade deal that would devastate many American businesses and workers’ wages, merely allow the president to negotiate it without oversight by Congress — and then rush it through Congress on a “fast track,” without examination or debate.
Support for new “trade agreements” or the Transatlantic Policy Network means breaking a congressman’s oath. After all, as this article shows, full implementation of the Trans-Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP) trade agenda would effectively mean the abolition of the United States as a free and independent nation.