That's All Right. We Didn't Like Prosperity Anyway.
By Pejman Yousefzadeh Posted in Democrats | Economic Antediluvianism | Economy | Free Trade | Protectionism — Comments (0) / Email this page » / Leave a comment »
Now that the Bush Administration has made clear the need for a free trade deal with Colombia--one that opens Colombian markets to American products (the reverse is already true) and one that demonstrates solidarity with Colombia in the wake of the country's recent military spat with Venezuela, I suppose it is only predictable that we have this:
House Speaker Nancy Pelosi (D-Calif.) said today that Democrats will seek to delay consideration of a trade agreement with Colombia, prompting the White House to accuse Democrats of threatening the next administration's bargaining power in trade talks.
Pelosi, who worked with the administration in crafting the Colombia Free Trade Agreement last year, said the House would vote on a rule change to freeze the clock on when it must consider the pact. Under the current provisions, the House has 60 legislative days to consider the measure after President Bush sent it to Capitol Hill on Monday.
Democrats instead want the trade deal considered as part of a broader economic relief package. Bush has rejected talk of a second stimulus package.
And well the President should. The first stimulus package was a bad enough idea. Now, we are going to go ahead and have a second one immediately after the first one? And we are going to hold up a free trade deal that could actually work to do it?
Let's all recall that one of the few bright spots of our economy is the export market. Indeed, American exports have basically helped keep the economy from completely sinking and if we have a mild recession, we will have exports to thank for its mildness. Now, with a chance to expand the export market still further--remember, the trade deal between Colombia and the United States will open Colombian markets to American goods--the Speaker of the House has basically decided to say "no thanks" and shoot the American economy in the foot.
What do we do next? Have a national "Let's All Down A Couple Shots Of Hemlock" Day? A couple of Speaker Pelosi's friends may well be on board with the spirit behind the proposition, if not the proposition itself.