By a vote of 217 to 215, the Congress of the United States at the direction of the Bush Administration has betrayed all American workers. The Central American Free Trade Agreement will create unfair pressure to lower the wages of all American workers when the basic staples not likely to be influenced by the agreement are exploding in price.
American companies will be under great pressure to move manufacturing operations outside the United States. Giant retailers of cheap imported products made by grossly underpaid and exploited Central American workers will profit. Companies like Wal-Mart will profit but not most American workers. American taxpayers along with American workers will suffer.
Even as consumers, Americans are unlikely to benefit in the long term. The trade deficit has begun to erode the buying power of the US dollar. Imports are beginning to become more expensive because of the falling value of the dollar. The Central American Free Trade Agreement will make the trade deficit larger.
When the North American Free Trade Agreement was sold to the American public, Americans were told that it would be accompanied with agreements that would raise labor and environmental standards in Mexico to American levels. It never happened.
Mexican workers continue to be exploited and pollution spills our southern border. The American job boom never happened. The jobs created in America paid much less than the jobs lost to Mexico had paid.
Lower wages and lost jobs will hurt the Social Security program. Income tax revenues will make the federal budget deficits and national debts larger. The Central American Free Trade Agreement is very bad for the American nation. Only a few large corporations that will make huge profits from exploited labor and polluting the environment will profit from this very bad piece of legislation.
Almost all Republican Congresspersons voted for the agreement which was pushed by the Bush White House despite the fact that all their constituents will suffer. Fifteen Democratic Congresspersons voted for this terrible agreement. Most will now face strong Primary opponents because of their votes for this measure. Even formerly safe Democratic incumbents like Ike Skeleton of Missouri, Jim Matheson of Utah, Jim Moran of Virginia, John Tanner and Jim Cooper of Tennessee, etc are likely to have strong Primary opponents because of their votes in favor of this agreement.