By David Nakamura and Paul Kane June 12 at 2:22 PM
President Obama suffered a major defeat to his Pacific Rim free trade initiative Friday as House Democrats helped derail a key presidential priority despite his last-minute, personal plea on Capitol Hill.
The House voted 302 to 126 to sink a measure to grant financial aid to displaced workers, fracturing hopes at the White House that Congress would grant Obama fast-track trade authority to complete an accord with 11 other Pacific Rim nations.
“I will be voting to slow down fast-track,” House Minority Leader Nancy Pelosi (D-Calif.) said on the floor moments before the vote, after keeping her intentions private for months. “Today we have an opportunity to slow down. Whatever the deal is with other countries, we want a better deal for American workers.”
The dramatic defeat could sink the Trans-Pacific Partnership (TPP), a sweeping free trade and regulatory pact that Obama has called central to his economic agenda at home and his foreign policy strategy in Asia. Obama’s loss came after a months-long lobbying blitz in which the president invested significant personal credibility and political capital.
Is this woman ever going away?
“…in which the president invested significant personal credibility and political capital.”
…uhhh, when was it that _resident Obama ever had significant personal credibility to invest? Particularly in the wake of his clear failure to negotiate in any effective way with the Iranians on their nuclear ambitions, or with the Iraqi’s on a basic status-of-forces agreement, just to give two examples? And exactly where is the political capital he supposedly amassed for later investment in an attempt to obtain a favorable vote on TPA? This author is sporting some seriously rose-colored glasses…