Fast Tracking the Decline in American Power

Supporters of Obamatrade won in the Senate by selling the idea that Fast Tracking would strengthen American power. They cited a letter signed by several former defense secretaries which claimed: There would be harmful strategic consequences if we fail to secure these agreements. In both Asia-Pacific and Atlantic, our allies and partners would question our commitments, doubt our resolve and inevitably look to other partners. Unfortunately, these defense secretaries did not understand the economics of trade deficits. The Trans Pacific Partnership (TPP), the first deal that Obama is negotiating, would actually accelerate the destruction of U.S. power by growing our massive trade deficits. Trade Deficits and Power It is clear at this point that TPP would increase U.S. trade deficits. Amendments to combat mercantilist currency manipulation were narrowly rejected in the Senate because TPP backers argued that U.S. insistence on ending currency manipulation would lead others...(Read Full Article)

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