US Republican Senator Jeff Sessions of Alabama has come out against the Wall Street wings of the Republican and Democratic Parties by opposing giving Wall Street President Barack Obama Fast Track Trade Authority, which is known simply as Fast Track. Fast track would provide little debate over trade agreements, call for an up and down vote in congress over any trade agreement, eliminates any amendments to the agreement, and eliminates any filibusters in the senate when it comes to trade agreements.
The looming Trans Pacific Partnership (TPP) is a massive income and political power redistribution corporate power grab falsely being marketed as a trade agreement by such Wall Street senators as Ron Wyden, Mitch McConnell, Orrin Hatch, as well as the president.
The TPP is a knife into the heart of the middle class and the American dream.
On his website, Sessions gives five reason for his opposition to fast track.
1. Fast track consolidates power in the executive branch of government, although, while true, fast track cedes and consolidates federal political power to Wall Street investment banks, unregulated hedge funds, and other major corporations, through the president. This is why Wall Street senators Wyden, Hatch and McConnell are behind this boondoggle.
2 The TPP will increase trade deficits. Sessions seems to have a good understanding of this, although he doesn’t mention that the US trade deficit will increase because more US jobs will be shipped overseas via the TPP, and the products formerly made in the US will be exported from Vietnam to the US, and this will increase the US trade deficit.
Think about this; when was the last time you purchased something from a Chinese company? Probably never. But you have bought plenty of things “Made in China” by US companies like Nike, Apple, and Microsoft, just to name a few.
3. Ceding Sovereign Authority To International Powers.
4. Currency Manipulation. The biggest open secret in the international market is that other countries are devaluing their currencies to artificially lower the price of their exports while artificially raising the price of our exports to them.
5. Immigration Increases. There are numerous ways TPA could facilitate immigration increases above current law—and precious few ways anyone in Congress could stop its happening.
Check out Sessions website by clicking on the link below for greater explanations on why he opposes giving the president Fast Track Authority.