But what are we gonna sell them?

Remember those trade agreements that Obama has been sitting on but blamed the Republicans for not approving?

Where Democrats split from Democrats

Certainly over trade policy. Some of the best Democrats (Sherrod Brown of Ohio, among them) are against the trade deals Obama and many Republicans are looking for — trade deals with South Korea, Panama, and Colombia. Democrats have balked at Bush’s free-trade agreement in the past and they are balking at it now. At issue is workers’ rights in at least one of those nations. Republicans, on the other hand, are for taking down the barriers (with the added possibility of fragmenting Obama’s support).

Republicans agreed this summer to authorize trade adjustment assistance (TAA) — a program that supplies federal income support to workers who lose their jobs or suffer drops in work hours as a result of increased imports. House Ways and Means Committee Chairman Dave Camp (R-Mich.) agreed to support the measure in June, while extracting some concessions that included spending cuts to offset the cost and a smaller pricetag, reverting to pre-stimulus levels of support. In July, 12 Republican senators sent a letter to Obama notifying him they would support the TAA bill and urging him to send the FTAs to the Senate.

Next week, Senate Majority Leader Harry Reid will take the first step in pursuing Obama’s trade agenda by introducing the TAA bill. According to spokesman Adam Jentleson, Reid hopes to pass it by the end of the week and move on to the three FTAs. …Chris Good, Atlantic


The President, during his speech to the joint session pointed out that the agreement would “make it easier for American companies to sell their products in Panama and Colombia and South Korea — while also helping the workers whose jobs have been affected by global competition…I want to see more products sold around the world stamped with the three proud words: ‘Made in America.’ “

So we’re gonna export more jobs overseas when we already have too many people here that are unemployed. We’ll pay higher taxes (now or later) to compensate the workers that will get laid off so we can buy cheaper stuff. That makes lots of sense. They’ll make something (we used to make) to sell us, but what are we gonna sell them?

How are we gonna buy anything if nobody here has a job?

BTW – What’s the number one lefty gripe about the Big Dawg?

NAFTA – a free trade agreement.

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22 Responses to But what are we gonna sell them?

  1. myiq2xu says:

    You would think the Smartest POTUS Ever™ would know we don’t stamp anything ‘Made in America.’

    We stamp it “Made in the USA”

  2. myiq2xu says:

    Politico re: Ron Suskind’s new book:


    –“Enough was enough, [White House chief of staff] Rahm Emanuel decided. … He summoned the two competing super-egos, [economic adviser Larry] Summers and [budget director Peter] Orszag, and told them to make peace. After all, they were each responsible for huge swaths of the federal government. And they were fighting at every turn. After a bit of delicate negotiations, it was decided that they’d meet once a week for dinner and see how it worked. So, that night, Orszag settled into a white-clothed table at the Bombay Club, a posh Indian restaurant across Lafayette Park, a favorite of lobbyists and White House officials.

    “Summers walked in, slightly late, but not impolitely so, and met Orszag at the table. And then it was the two of them. Orszag hoped that this time the White House would be less fraught with strife than the last go-round during the 1990s. Summers said it kind of came with the territory. This talk of their shared history seemed to thaw things out. They both grabbed for the plate of flatbreads … and tore corners at the discus-sized breads. ‘You know, Peter, we’re really home alone.’ Over the past few months, Summers had said this, in a stage whisper, to Orszag and others as they left the morning economic briefings in the Oval Office. … ‘I mean it,’ Summers stressed. ‘We’re home alone. There’s no adult in charge. Clinton would never have made these mistakes.’”

  3. glennmcgahee says:

    General Electric has developed some marvelous weapon systems that are gonna be available. I’m sure there’s plenty of security stuff we’ve developed also. Thats what we can sell ’em.

  4. President Obama to Propose Millionaire’s Tax Called ‘Buffett Rule’ Sounds like a crowd pleaser. Curious how much it will raise a year. For comparison, every one year extension of the Bush tax cuts to the middle class costs $240 billion, to the wealthy (250k plus) costs $40 billion.

    • Would have to include capital gains I’d think, else the rich would find a way around this Buffet AMT. So 236k millionaires as the article says, making an average of let’s say $3 milllion a year, with maybe a marginal 10% increase on their top rate = an additional $70 billion a year, above and beyond expiration of the Bush tax cuts to wealthy. Guess that’s not small.

      • Mary says:

        Senate Dems will never pass this Millionaire’s tax for him, given how much they want to be seen as supporting small businesses for their own re-election.

        Obama/Axelrod/Plouffe know this.

        So, really (and I do love the way you figure out real numbers), it’s just another gesture to demagogue for the election.

        • Mary says:

          And, I might add, to distract Democrats from understanding that Obama intends to support cutting $300 billion MORE from Medicare and Medicaid.

          Razzle dazzle. Okey doke. Pay attention to the right hand , while getting screwed by the left.


  5. DeniseVB says:

    #attackwatch break 🙂

  6. DeniseVB says:

    The Day of RAge peeps failed to get the proper permits and were blocked out of Wall Street. Maybe I should have put this in the Morans thread 😉


  7. Mimi says:

    Among them was Dave Woessner, 31, a student at Harvard Divinity School. “When you idealize financial markets as salvific you embrace the idea that profit is all that matters,” he said.

    Mr. Browne said no permits had been sought for the demonstration but plans for it “were well known publicly.”

    No wonder the Democrats ignore them. They are idiots and I know some Girl Scouts that could give them a big scare. The article is hilarious.

  8. Dario says:

    Europeans aren’t buying Tim’s bad advice.

    Advice on Debt? Europe Suggests US Can Keep It

    European leaders, who have been slow to react to the root causes of the problem, emerged from the meeting dismissive of Mr. Geithner’s ideas and, in some cases, even of the idea that the United States was in a position to give out such pointers.
    “I found it peculiar that, even though the Americans have significantly worse fundamental data than the euro zone, that they tell us what we should do,”

    • ralphb says:

      I hope they keep the same opinion when the EUR drops into the dumper and the Fed has bailout money 🙂

      • Dario says:

        The Fed can’t help Europe.

        • Mary says:

          Can’t they funnel money through the IMF?

        • IMF may be tapped out, or not. Think the Fed will try with repo (short-term repurchasing) operations. Over the past six months European commercial banks have transferred over $500 billion to the Fed in safe haven US treasuries…one of the reasons why treasury yields have been so low. So along with the Bank of Japan and the Swiss National Bank, the Fed will try and push money back to the ECB to help it stay liquid. US commercial money markets have stopped investing in Europe. The move by the central banks should provide maybe $1 trillion worth of backing over the next six months. This buys the region more time to work out a longer term solution to the euro crisis.

        • Mary says:

          Thanks, TW!

  9. ralphb says:

    The American Scholar: Dubya and Me

    Over the course of a quarter-century, a journalist witnessed the transformation of George W. Bush

    Very long and thoughtful article.

  10. US exports $39 billion (chemicals, agriculture, components) to South Korea and imports $49 billion (electronics, cars). US exports $12 billion (chemicals, industrial machinery, agriculture) to Columbia and imports $16 billion (oil, coal, coffee). US exports $6 billion (merchandise) to Panama and imports $0.4 billion. Together all three nations represent about 1/3 our total trade volume with Mexico. These charts from the CBO show that although our trade volume with Mexico increased in the first decade after NAFTA passed, relatively little of the volume increase had to do with NAFTA itself. The lowering of tariffs on both sides typically represent savings that are passed on to consumers.

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