China is like a bunch of yelping dogs. So says Senator Sherrod Brown. When it comes to doing anything about our massive trade deficit with China, out come the pundits, corporate plants, threats and misinformation, all in an effort to stop our government from taking any action. Will the Senate actually listen to the statistics and the cries of the U.S. worker, ignore the snapping dogs, barring their teeth, nipping at their heels, and vote to do something?
Update: Yes the Senate did man up and voted for cloture, allowing the the vote for passage to occur. Here are the votes and it was 62 to 38. The bill still has to pass and Boehner is blocking the bill in the House.
Finally the Senate is considering doing something about China's currency manipulation and guess who is trying to block that effort? Why GOP minority leader Mitch McConnell. He is trying to block cloture, which requires 60 votes to stop debate on a bill. Politico is reporting no vote tomorrow, which means McConnell got his 40 so called representatives of you in the Senate to vote no. That would mean, once again, the U.S. worker gets no action from our government to create jobs and support U.S. manufacturing. Yet The Hill is reporting there will be a cloture vote today, Thursday morning.
Below is a video clip where Sherrod Brown, Senator from Ohio, a state absolutely decimated by bad trade pacts, describing what the the currency bill, S.1619, actually does.
Senator Bernie Sanders on the consequences of currency manipulation:
Over the last decade, more than 50,000 factories in America have been shut down. 5.5 million manufacturing jobs have been lost. We had more factory jobs in March of 1941, eight months before the attack on Pearl Harbor, than we do today.
So, why would Mitch McConnell block the vote on a very obvious trade problem that is costing so many American jobs? Why, corporate lobbyists of course.
Grover Norquist and the Club for Growth are threatening retaliation against any Republican who dare fight to bring the China currency bill up for a vote in the House.
The well-funded conservative group has said it will score as a "key vote" any signatures to a discharge petition to force a House vote on legislation meant to punish China for manipulating its currency to lower the price of its exports to the U.S.
Even the Peterson Institute acknowledges the cost of China's currency manipulation to the U.S. economy:
Fred Bergsten, director of the Washington-based Peterson Institute for International Economics, estimates that a 20 percent rise in the yuan would reduce the U.S. trade deficit by $50 billion to $100 billion. At a gain of about 6,000 jobs for every $1 billion improvement in the trade balance, $100 billion would work out to 600,000 jobs.
You can contact your Senators here, by phone, since the vote is this morning, requesting they pass this bill.