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The Trump administration has crafted a draft bill — ordered by the president — that would declare America's abandonment of World Trade Organization rules, according to Axios. The bill essentially provides President Donald Trump — who has argued for a better position for the U.S. in big trade pacts — a license to raise U.S. tariffs at will, without congressional consent and largely outside of the international rules governed by the WTO. The bill, titled the "United States Fair and Reciprocal Tariff Act," would give Trump unilateral power to ignore the two most basic principles of the WTO and negotiate one-on-one with any country.
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'FART' Bill Indicates Trump's Intention to Dump WTO
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The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
Give him an evasive answer.
(Score: 5, Insightful) by bob_super on Tuesday July 03 2018, @06:44AM (19 children)
What amazes me the most is that the fiscally conservative R guys, who hounded Obama for years when he was going textbook-Keynes at the greatest recession, are letting him do this.
Just because they are afraid to lose.
So we get isolationism. Do you know what doesn't match very well with isolationism and trade wars ?
$21815 Billion dollars debt! [usdebtclock.org]
Utter Madness ... And the Dems are focused on crying about illegal immigrants.
(Score: 3, Insightful) by isostatic on Tuesday July 03 2018, @07:40AM (7 children)
Print a $21b note, job done.
National economies are not like household accounts.
(Score: 4, Insightful) by bob_super on Tuesday July 03 2018, @07:47AM
You're off by three zeros.
Printing a note valued at a year's worth of GDP is a great way to convince investors to put their money elsewhere, which doesn't quite jive with a trillion per year federal deficit.
(Score: 3, Insightful) by Anonymous Coward on Tuesday July 03 2018, @09:19AM (5 children)
We already print money like it's nothing. How do you think we got into this situation in the first place?
(Score: 0) by Anonymous Coward on Tuesday July 03 2018, @04:21PM (4 children)
Please elaborate. Inflation has been sub-par until very recently.
(Score: 2) by DeathMonkey on Tuesday July 03 2018, @08:26PM (3 children)
Inflation is at its highest rate since 2012. [inman.com]
(Score: 3, Insightful) by The Mighty Buzzard on Wednesday July 04 2018, @01:56AM (1 child)
Dude, inflation has been nonexistent to piddly since late Clinton, early Bush. Saying it's a record since 2012 is like saying one street puddle is deeper than another; you still can't fish in either of them.
My rights don't end where your fear begins.
(Score: 2) by arslan on Wednesday July 04 2018, @07:08AM
Gotta love wordsmithy stats. Oblig. dilbert: https://morningstoryanddilbert.files.wordpress.com/2014/06/91764-strip.gif [wordpress.com]
(Score: 2) by isostatic on Wednesday July 04 2018, @07:15AM
10 year rolling US inflation over the last 40 years.
https://i.imgur.com/wIgfDoX.png [imgur.com]
(Score: 2) by deimtee on Tuesday July 03 2018, @10:11AM (5 children)
Wow, that's a lot of money. Who do you owe it to?
200 million years is actually quite a long time.
(Score: 0) by Anonymous Coward on Tuesday July 03 2018, @12:18PM (4 children)
The government mostly owes it to itself: http://www.businessinsider.com/who-we-owe-federal-debt-to-2013-10 [businessinsider.com]
So see, it doesn't even matter (somehow).
(Score: 4, Informative) by The Mighty Buzzard on Tuesday July 03 2018, @03:04PM (3 children)
To foreign investors, actually. The people who buy Treasury bonds.
My rights don't end where your fear begins.
(Score: 1, Interesting) by Anonymous Coward on Tuesday July 03 2018, @08:43PM (2 children)
Actually, the largest holders of federal government debts are state and local governments, last time I checked.
Next time, do your damn homework before posting. And who were the idiots who modded you up as informative? Your personal army of sock puppets?
(Score: 2) by The Mighty Buzzard on Wednesday July 04 2018, @02:04AM
Sorry, you're simply incorrect. Foreign entities hold a bit more than six times [thebalance.com] as much as all state and local holdings combined, or slightly less than half of all public debt.
My rights don't end where your fear begins.
(Score: 2) by The Mighty Buzzard on Wednesday July 04 2018, @02:06AM
As for who modded me, I just checked and it was a couple of people I routinely get in heated arguments with.
Pro-tip: if you have database access, you don't need sock puppets and if you have intelligence you don't need database access.
My rights don't end where your fear begins.
(Score: 0) by Anonymous Coward on Tuesday July 03 2018, @12:46PM
What amazes me is this
https://en.wikipedia.org/wiki/1999_Seattle_WTO_protests [wikipedia.org]
(Score: 4, Insightful) by DeathMonkey on Tuesday July 03 2018, @02:54PM (3 children)
Utter Madness ... And the Dems are focused on crying about illegal immigrants.
We can be pissed off about more than one thing at a time...
(Score: 0) by Anonymous Coward on Tuesday July 03 2018, @03:37PM (2 children)
Yeah, but it's always on the wrong things. There's still no introspection, still blaming others for their own failures, and still trying to play both sides of the aisle through deceit. Real liberals are dumb as dirt by sticking with these bastards, and really do show their own evil by compromise and appeasement on matters of civil rights and individual liberty.
(Score: 0) by Anonymous Coward on Tuesday July 03 2018, @05:27PM (1 child)
Observe the D team establishment in horror that candidates like Ocasia-Cortez can win.
Then once you've done that, you will begin having nightmares, because you will wonder why the press would be hailing Ocasia-Cortez as a hero instead of burying her victory and giving her the Bernie Sanders treatment (the silent treatment)?
And how is Bernie Sanders still in the news? Isn't he an outsider? Some crazy I-VT guy? Some old white dude to whom we must never listen because identity politics? Or did they replace him with a pod person?
Can the D team establishment really change? A comparison was drawn in an article I saw on NYT while attempting to find the sauce for some hyperbolic statement wswswswswsws had made this morning between the Tea Party and the Democratic Socialists of America.
We saw how the Tea Party turned out. Instead of a libertarian movement (which was supported by small l libertarians before it was infested with religious crazies), we got an authoritarian nightmare fueled by cheez pizza conspiracy theories.
Why do I get the sense that instead of a socialist movement (which may be supported by small s socialists before, perhaps, being infested with religious crazies [wikipedia.org]... well perhaps I place my pet fear here because I haven't worked out the real answer...), we will get an authoritarian nightmare fueled by misogynerd conspiracy theories?
Shirley the lizard people don't intentionally foreshadow the plot in the 2020 season of the hit reality TV show, The Candidate!
(Score: 2) by Azuma Hazuki on Tuesday July 03 2018, @09:01PM
The modern Democratic party, or at least its machinery and all parts of it over the age of 45 or so, are dead. A lost cause. Worse, a festering gangrenous wound that's taken up so much of the body it can't be amputated. They did this to themselves in the late 60s and early 70s, and like all huge creatures, it takes the head a while to say ouch when someone steps on the tail.
I am "that girl" your mother warned you about...