Trans-Pacific Partnersip Will Eliminate US Middleclass (picture)
Six years into his presidency, President Obama is now taking heat from a surprising place: congressional Democrats, who are lining up against his plan to force the Trans-Pacific Partnership (TPP) through Congress without any debate whatsoever.
If approved, the TPP, or as I like to call it, the Southern Hemisphere Asian Free Trade Agreement — SHAFTA — would create a whole new set of rules regulating the economies of 12 countries on four different continents bordering the Pacific Ocean.
Unfortunately, because the TPP is being negotiated almost entirely in secret, we don’t know a lot about it.
What we do know about it, though, comes almost entirely from leaks, and those leaks paint a pretty scary picture.
Thanks to groups like WikiLeaks, we now know the TPP would give big pharmaceutical companies virtual monopoly patent power, let corporations sue countries in international courts over regulations that those corporations don’t like, and gut environmental and financial rules.
But that’s apparently not the case.
To push the US onto the TPP as soon as possible, he’s asked Congress to give him “fast-tracking” powers that would prevent lawmakers from making any amendments to the TPP.
Instead, the treaty would be sent right to the floor where it would only have to pass a simple majority vote.
Sounds pretty, anti-democratic, right?
Well it is, and that’s why Congressional Democrats are now speaking out against President Obama’s request for fast-tracking powers. MOREHERE
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