Many are now starting to believe that the media has been lying to us. We have heard that “free trade” agreements have been delivering good results to us, when in reality, the facts show us that its been the opposite. Penny Pritzker, U.S. Secretary of Commerce has spoken up about the U.S.-Korea Free Trade Agreement (KORUS) and has talked about supposed “tangible results.” The only “tangible results” we have seen are the trade deficit increase of over 55 billion with South Korea, a decrease in our exports, and although some tariffs were eliminated, our goods still face the 10 percent Value Added Tax. Are these the results that Pritzker is boasting about?
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President Obama has his sights on Asia, where his administration is hoping to pursue yet another misguided “free trade” pact that will dwarf anything we have seen in the past. This president has been adept at building good will around the world, but these efforts have not translated into economic successes at home.
The wealth gap between the rich and the poor in the United States has been widening for far too long and has finally reached a 100-year high. “By some estimates, income and wealth inequality are near their highest levels in the past hundred years,” said Federal Reserve chief Janet Yellen. “I think it is appropriate to ask whether this trend is compatible with values rooted in our nation’s history, among them the high value Americans have traditionally placed on equality of opportunity.” As the rich get richer and the poor get poorer, our economy is sinking and it is sinking fast.
Our leaders consistently pursue new “free trade” deals despite the fact that our previous deals have been abject failures.
President Barack Obama isn’t relenting in his pursuit of ensuring that the dangerous Trans-Pacific Partnership (TPP) gets passed. After years of negotiations the president is now hoping that a Republican-led Congress will give him the authority he needs to pass this disastrous agreement. We can only assume that those pushing for passage of this agreement have either sold out or are uninformed about the devastation that this agreement will have on our economy.