February 20, 2015

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Was the national vote to give Republicans majorities in Congress unseen since 1946 a vote to have the GOP turn over all power to write trade treaties to Obama and his negotiators who produced the greatest trade deficits in American history?

Do these record deficits justify such blind confidence in Obama? Do they justify Congress’ renunciation of rights over commerce that the Founding Fathers explicitly set aside for the legislative branch in Article I of the Constitution?

“If we don’t like the way the global economy works,” says Paul Ryan, “then we have to get out there and change it.”

No, we don’t. The great and justified complaint against China and Japan, who have run the largest trade surpluses at our expense, is that they are “currency manipulators.”

Correct. But the way to deal with currency manipulators is to rob them of the benefits of their undervalued currencies by slapping tariffs on goods they send to the United States.

And if the WTO says you can’t do that, give the WTO the answer Theodore Roosevelt would have given them.

Instead of wringing our hands over income inequality and wage stagnation, why don’t we turn these trade deficits into trade surpluses, as did the generations of Lincoln and McKinley, and T. R. and Cal Coolidge?

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