IT'S REVEALING THAT THE UR IS SUCH A REPUBLICAN...:

Trading toward Recovery: Congress should pass trade agreements to help the economy. (Geoffrey Michener and Brian McGraw, 5/20/10, National Review)

As the economy continues to stumble, Congress and President Obama have repeatedly refused a unique opportunity to bolster our workforce and our economy. Their inaction on three pending Free Trade Agreements (FTAs) — particularly one with Colombia (CFTA) — is costing U.S. consumers and businesses billions in lost opportunities.

The U.S. International Trade Commission estimates that the CFTA would increase U.S. GDP by $2.5 billion. Exports to Colombia would increase by $1.1 billion when tariffs — ranging from 10 to 35 percent per good — were lifted. On the import side, 90 percent of Colombian goods already enter the United States without any tariffs, but nevertheless, imports from Colombia are projected to increase by $487 million annually if the agreement is approved.

Economists from across the political spectrum have argued that reducing trade barriers is one of the most effective ways to spark economic growth. The Copenhagen Consensus, a Danish think tank, argues that completing the World Trade Organization’s Doha Round of trade talks could boost growth in the world’s poorest countries by 1.4 percent per year. The CFTA is a small but important piece of that puzzle. It is also low-hanging fruit. Negotiations were completed three years ago. All that’s left are votes by the House and Senate.

...just unfortunate that he's a 1920's one.

Posted by Orrin Judd at May 20, 2010 5:47 AM