Free Trade, Free Trade, Free Trade. Congress passed three so-called Free Trade agreements last night – meaning transnational corporations now have new pools of cheap labor in Colombia, South Korea, and Panama. All three trade deals were passed with bipartisan support in both Chambers of Congress despite the face that Senate Majority Leader Harry Reid was against them – and House Minority Leader Nancy Pelosi expressed skepticism about the Colombia deal.
Over the last two decades – we’ve seen the effects of these so-called Free Trade deals on our economy. We’ve seen trade surpluses turn into massive trade deficits. We’ve seen millions of factories and manufacturing jobs shipped overseas. And we’ve seen the wealth and power of transnational corporations explode while small businesses collapse.
Yet – our lawmakers – continue to buy into this gimmick year after year. It’s time to put down the Free Trade Kool-Aid.