Friday, June 12, 2015

"House Rejects Trade Bill, Rebuffing Obama’s Dramatic Appeal."-NYT.

WASHINGTON — House Democrats rebuffed a dramatic personal appeal from President Obama on Friday, torpedoing his ambitious push to expand his trade negotiating power — and, quite likely, his chance to secure a legacy-defining trade accord spanning the Pacific Ocean.

In a remarkable rejection of a president they have resolutely backed, House Democrats voted to kill assistance to workers displaced by global trade...
...
 ...without trade adjustment assistance alongside it, passing trade promotion authority in the Senate would be highly doubtful.
...
The vote was an extraordinary blow to Mr. Obama...
...
But a president who has long kept Congress at arm’s length may have paid a price.

Extraordinary language from the Quasi's! This is the most pessimistic account I have read so far of TPP's chances.