Trade Tops Agenda For Obama In Mexico
President Obama in Mexico today to talk trade. NYT: "Michael B. Froman, the president’s trade representative ... noted that as a candidate, Mr. Obama promised to renegotiate the North American Free Trade Agreement, known as Nafta. 'And that’s exactly what we’re doing in TPP, upgrading our trading relationships not only with Mexico and Canada but with nine other countries as well,' Mr. Froman said ... That assertion drew scorn from critics. 'I don’t think that expanding on the Nafta model and extending it to nine more nations was what the unions, environmental groups or Democratic Party activists had in mind when Obama said he would renegotiate Nafta,' said Lori Wallach, a trade expert at Public Citizen ..."
USTR Froman delivers address intended to respond to progressive critics of TPP. The Hill: "Froman said the United States must stake out a global leadership position, and faces a choice of raising standards or staying on the sidelines while other countries write the rules ... A tweet Tuesday from Sen. Bernie Sanders (I-Vt.), a vocal opponent of trade expansion, highlighted the challenge facing Froman and the White House. Sanders said on Twitter the TPP would 'sanctify the right of corporations to make profits at the expense of hard working Americans.'"
Fast track vote won't happen anytime soon. AP: "'Neither political party at this point has any appetite for taking on an issue that would divide that party's caucus in Congress,' said William Galston, Clinton's domestic-policy adviser when NAFTA was passed. 'That being said, I suspect that very little is going to happen between now and November' on the trade front..."
CBO Report Distorts Wage Debate
No, 500,000 won't lose their jobs. Dean Baker: "The CBO projections imply that 500,000 fewer people will be employed at low wage jobs. It did not say that 500,000 people would lose their jobs. This is an important distinction. These jobs tend to be high turnover jobs, with workers often staying at their jobs for just a few months ..."
No, the CBO is not making a firm prediction. TNR's Mike Konczal: "...the report doesn’t quite convey the level of debate and the ambiguity when it comes to these numbers. Instead, it gives a narrow, and headline grabbing, result."
Economists criticize CBO model. The Hill: "Economist Joseph Stiglitz said most studies cluster around the finding that there is no employment decrease and that 'suggests the standard model is wrong.' Bob Greenstein of the Center for Budget and Policy Priorities said that the CBO used some 'lower quality studies in their estimates.' He noted even accepting the CBO job loss figure, the wage gains to workers including higher income workers from the minimum wage increase, would help 50 times as many workers as those hit by job losses."
Some Republicans still looking for a deal on unemployment insurance. Politico: "Sens. Dan Coats of Indiana, Rob Portman of Ohio, Dean Heller of Nevada and Susan Collins of Maine want a deal that could bring the Democratic drumbeat to an end ... Before the Senate broke for recess last week, the Republican group began floating a proposal to Democrats that would retroactively revive benefits for 90 days, paying for it by cracking down on people receiving both unemployment and disability benefits and changing federal pension programs. In addition, the GOP wants to at least vote on amendments to reform the program, such as a ban on people receiving benefits once they’ve received 'suitable' offers of work and job training programs."
