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Saturday, May 9, 2015

Obama goes after Warren: ‘She’s absolutely wrong’ on trade

From an article located at:

My comment:
I love President Obama but I think he is making the same mistake President Clinton made towards the end of his presidency, when he allowed the repeal of Glass–Steagall Legislation passed
in 1933. Glass–Steagall Legislation prevented Wall Street from stealing money from investors and as soon as Glass–Steagall Legislation was repealed, the groundwork for the 2008 crash was put into place.

Repealing Glass–Steagall was a big priority of the Republican Party during Clinton's administration. Several years later, Clinton would admit not vetoing the repeal of Glass–Steagall was one his biggest mistakes. President Obama is about to make one of his biggest mistakes right now.

The fact that the majority of the Republicans are in favor of the TPP and the majority of the Democrat Party is in opposition to the trade agreement says a lot in my mind. Elizabeth Warren has been dead on correct on every issue she has advocated for in her career and on this issue, she is again correct. At this point in our history, supporting anything the Republican Party desires comes at our own risk.

Past International Trade agreements have done great harm to our economy and have destroyed our manufacturing base. We have heard all the promises of job creation in past trade agreements only to witness longer and longer trains, laden with products manufactured overseas, travel coast to coast across our nation. Every time you see a long freight train delivering products that used to be produced in America, you are witnessing the demise of the middle class in America.

Unfortunately, President Obama is wrong on this issue and he has not demonstrated how our manufacturing base will be improved. I must say again! If the Republicans are for this deal and Wall-Mart is in favor of it, be suspicious. If Elizabeth Warren and most of the Democrat Party is against the deal, sit up and pay attention.
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