Wednesday, January 29, 2014
bad news about U.S. foreign economic policy
I noted the other day that Congress blocked the administration's effort to let the United States support reform of the International Monetary Fund that an earlier congress authorized. Then last night the president made a tepid defense of his foreign trade proposals, which many Democrats oppose. Today, the Senate Majority Leaders, Harry Reid of Nevada, said he was opposed to the bill authorizing the trade negotiations and said he might not even bring it to a vote. The measure, often called "fast track" because it allows trade agreements to be voted on without congressional amendments or filibusters, is necessary to permit completion of the trade packages for the Pacific region and with the European Union. Not good news.