Since I was young boy all I never knew was finance, markets, and the logistics behind growing and receding economies. When the trade authority failed, I must admit I was relieved. Very few times I have disagreed with my father. To me, American workers held precedence over corporate benefits to a certain degree. To my father growing the economy was above all. A strong economy is essential, just not at the expense of losing millions of American workers. The nature of business is to cut costs and increase profits, it was designed this way. Millions of Americans will lose jobs in order for companies to hire cheaper labor for the same output, or even relocate to foreign nations.
I'm obliged to commend the democrats for standing up for American workers, and defeating TAA, knowing the dreadful effects such a trade would have on the middle class.
The trade adjustment authority, as it's known would've allowed big business leaders to write rules in foreign capitals. The bill essentially gave an untrustworthy president the power to fast tract trade deals, that the public would only ever find out about after it had passed. It's almost gut wrenching to see Paul Ryan, once such a promising young man to suddenly mimic the establishment. Going as far as saying something along the lines of "pass the bill, to find out what's in it."
Most worrisome is the eagerness of establishment republicans to put the interest of big business ahead of their own constituents. They were elected to govern all the people, not only those with vested interests in Trade adjustment assistance and Trade promotion authority. The TAA, in an almost acknowledgement of the detriment it would have on the American workers, was written specifically to train those who were to lose their jobs to foreign competition. The lengths this government is going in order to obtain cheaper labor at the cost of American workers, is astonishing. Both parties have succumbed to lobbyists and promise of unlimited campaign cash in order to pass bills to aid those persistently searching for cheaper labor.