U.S. House rejects Obama's Fast Track bill!

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http://www.bbc.com/news/world-us-canada-33114488

Late last night the House of Representatives killed the Fast Track bill, which would have given Obama the needed authority to finish the Trans Pacific Partnership (the 12 country free trade act of the Pacific region) and forbid congress from amending when voting on the final trade agreement.

The reasons why it failed were as follows:

Most Democrats hate Trans Pacific Partnership because they believe it will kill American jobs like NAFTA did while giving corporations more power.

Most Republicans hated the Training Assistance Agreement, which would have the federal government to pay to retrain workers who lost their jobs due to the TPP. They really hate this program!

The Democrats rebelled against Obama and voted with Republicans to kill the TAA bill, which killed Fast Track bill since the Senate passed it as one big bill (barely passed it).

The House is scheduling a revote on the the Fast Track and TAA bills in order to pass both (which is required), but Nancy Pelosi (Leader of the House Democrats) is rallying the Democrats to kill the bill forcing Speaker Boehner to spilt them into two separate bills to send them to the Senate.

Though if the Fast Track bill split from the TAA and sent to the Senate alone, will most likely face a certain death in the Senate, since the original bill passed by a very slim margin.

Obama and this GOP allies on the issue, state if this bill fails (essentially killing the TPP negations and agreement), then China will have full dominance over Asia.

Quick send Asia all our jobs so China won't "dominate" them! Trade bills are unnecessary and only indicative of sweatheart deals for huge multinational corporations, it might be good for some executive on Wall Street but I don't see the benefit of American worker whose job will get outsourced to Vietnam or Malaysia, The money saved is pocketed, think about how much cheap crap from China is sold for a 100x its worth here. This benefits poorer country, we are transferring wealth to from our people to theirs in order to gain influence over their countries since if you control their economy you control them.

I believed strongly in the NAFTA trade agreement when Bill Clinton wanted it. That is the LAST time I believed in any trade agreement. They have all harmed American workers.

I am glad congress killed it because it gives way too much power to the president in very important matters. It's obviously a bill tailored to the needs of faceless corporations exclusively so it's not a surprise Republicans would treat it like a "hell ya!" bill and the next day tell us regulations kill jobs. More like government is killing jobs with bills like these.

The House still is planning a revote on the bill(s) sometime this week.
Hopefully Boehner won't give into Democrats demands killing the bills.

XenoCity,
You say if this bill goes away China will have dominance over Asia but remember it is the US that has dominance over North America and much of the world. So? You don't want China to have dominance but you live in the US and we pretty much have it. Would you say it's a bad deal from the perspective of someone living in the US?

but why should American workers get shafted just to "stick it" to china?

I was under the impression that most American jobs that can be outsourced already have been outsourced. I wonder what is left to outsource?

I predict that before 2030 all the larger fast food joints will have been automated. which means that for the working class it will be "no meat ball." the only thing remaining will be forced labor [concentration] camps for those with insufficient intelligence/money to make it in the new banana republic that America will become.

Everything seems to be about making it easier for companies to move across borders, but never for making it easier for ordinary people to cross borders--it's only ever about making it harder for ordinary people.

IMO, this is one of the major reasons for the growing wealth disparity in the U.S..

It's horses**t, the fact that there has to be a companion piece of legislation anticipating "retraining" all the workers who will lose their jobs because of the trade bill should tell you all you need to know. "Retraining" is meaningless and pointless, it is to cover their ass only. This is a transfer of wealth from the American worker who our government sees as too free and too resource consuming to 3rd world country's we wish to dominate economically and when you dominate someone economically you dominate them politically. The fat cats will see profits since they get to essentially use slave labor but don't count on the money saved translating into cheaper goods and even if there was some savings it would probably be lost to inflation. Anyone that votes for this is a traitor.