Tag Archives: Senate China currency bill

A Message from Senator Jim DeMint: Harry Reid Nukes the Senate

 Fellow Conservatives:

Senate Majority Leader Harry Reid (D-NV) fundamentally weakened the United States Senate yesterday in a desperate attempt to block a vote on the President’s stimulus bill.

Using a simple majority vote, Reid used the "Nuclear Option" to change the rules of the Senate so senators cannot offer amendments. In the future, senators will only be able to modify legislation if Harry Reid agrees to it.

Harry Reid changed the rules of the Senate because Republicans planned to force a vote on President Obama’s stimulus plan. The plan is so unpopular that it was going to be defeated by Republicans and Democrats when it came up for a vote. This would have embarrassed the president so Reid and the Democrats just changed the longstanding rules of the Senate to block it. You can learn more atRedState.com.

The Senate is supposed to be the "World’s Greatest Deliberative Body". That means debating, amending, and voting on legislation — all things Harry Reid has sought to avoid during his tenure as Senate Majority Leader.

Folks, we’re teetering on tyranny. We must elect a conservative majority in 2012 to stop this madness.

This latest attempt to ignore the rules and force bad legislation on the American people is alarming, but it’s not that surprising. Democrats have been ignoring the U.S. Constitution and blowing through its stop signs for years.

Republicans can protect their rights in the Senate but it requires 41 Republican votes to keep the Democrats from cutting off debate. Unfortunately, too many Republicans lack the courage to stand together for the principles of freedom.

The only way to take our country back is to elect true conservatives to the U.S. Senate. We need principled leaders who care more about defending our freedoms than their own political careers.

I want to thank each of you for being members of the Senate Conservatives Fund and for supporting our endorsed candidates. Because of your support, SCF has invested over $500,000 in two outstanding candidates — Josh Mandel in Ohio and Ted Cruz in Texas.

 

Obama Delivers "Pass My Jobs Bill" Speech ( #19 in 2 weeks)

 President Obama just wrapped up his most recent speech  (112 minutes of it) in which he both started and ended with the temper-tantrum-like, “Pass My Jobs Bill Now” obvious 2012 reelection style campaign rhetoric. President Obama spent an ample amount of his TV time today towards blaming Republicans for not passing his jobs bill already, even though it is in fact, Harry Reid and Senate Democrats who have refused to vote on it. Last we heard Mr. President,  it is a known fact that Congress is made up of both parties, and your Liberal Democrats hold the majority in the U.S. Senate today, just in case you weren’t aware of that fact. It is nothing short of amazing in how the lead- mouthpiece of the Liberal Party USA, Barack Obama can never seem to find a thing that Democrats are responsible for during the last 5 straight years of Congressional rule. ( 2007-2010 plus Senate rule today ) When it comes to any criticism, it is like they don’t exist in Obama’s world. It was just announced that, after being exposed by Republican minority leader Mitch McConnell yesterday on the Senate floor in his refusal to act on Obama’s demands to vote on the jobs bill, Harry Reid has now agreed to hold a vote on Obama’s supposed jobs bill. Good luck Harry. Last we heard, Obama’s supposed jobs bill has bi-partisan opposition in the U.S.Senate.

 

 

President Obama was asked if he would sign the current Chinese Currency Manipulation bill in Congress which has bi-partisan support , which he totally dodged by talking about the history of China’s doing just that, yet once again he refused to be clear as to whether he would sign the bill as asked. That non-committal to denounce China as a currency manipulator is exactly how China has gotten away scott-free for decades without any firm repercussions.


When asked about the current Solyndra pay-for-play scandal where half a billion tax dollars were funneled into Democratic campaign coffers, Obama stayed on message in denying any wrong-doing, and also said it is up to the Dept. of Energy to take these risks on behalf of the taxpayer in so many words. FYI, Mr. President, the political appointees in fact, do not have authorization to “make bets” with taxpayer dollars any where in the U.S. Constitution. As a much-ballyhooed Constitutional scholar, one would think you would know better than to to try to sell that load of bunk there.


President Obama once again defended his political operative over at the DOJ,  Eric Holder in trying to convince the public that Holder knew nothing about the Fast and Furious government-sponsored gun-running program that resulted in the murder of 2 border agents and hundreds of citizens .E-mails and other correspondence prove Holder and the Obama administration were in fact informed about that program and allowed it to proceed. Again we see that President Obama refuses to hold anyone accountable for this travesty of injustice. Simply denying the facts will not make it go away Mr. President, as you are starting to see by Rep. Darell Issa now demanding a special prosecutor, promising to “get to the bottom of it, no matter what it takes.”

 

President Obama took some parting shots again at the GOP towards the end of his latest TV appearance, where he demanded that they tell him what they do not agree with in his jobs plan several Republicans have already expressed these concerns, but maybe Obama missed them, considering he has been on the campaign trail for the better part of two straight weeks now. As a voting citizen, I have one simple problem with Obama’s supposed jobs plan and a very simple way to solve what I see as the biggest problem with his supposed desire to “create or save” jobs in America. Pass the bill on one condition: Every contract funded by this jobs bill must be put up for bids in order to ensure the taxpayer gets the most bang for their buck. That way, all of the infrastructure, road-building and new construction projects in Obama’s new jobs plan, will not be used to buy Union crony-capitalists votes for his 2012 reelection campaign. What say you Congress? Draw up the amendment and then take that message to “We the people” that you will in fact, pass Obama’s jobs bill as long as it does not cut out the 85% of the workers in this country who do not belong to Unions.  That’s all Obama’s latest stimulus plan 2.0 is, that he is trying to sell to Congress so heavily recently.  As far as We the People running Republicans out of town if they don’t pass your fake jobs bill, the main target to be run out of town as of right now is you Mr, President, which is backed up the recent number of your very own 55% disapproval ratings show. Gosh, how I hate having to watch these retreads of Obama’s campaign speeches that always contain a heavy dose of blaming everything under the sun for his blatant failures as the leader of this country, instead of taking one ounce of responsibility. 2012 just can’t get here fast enough.

 

 

Senate to Vote on China Currency Manipulation Bill Monday

  While China has purposely devalued it’s currency, hurting the value of the U.S. dollar over the last decade, neither the Obama or G.W. Bush administrations have actually taken the step to formally designate China as a currency manipulator in any annual reports in the past decade. Failure to designate China as a currency manipulator prevents the U. S. government from being able to apply tariffs on Chinese imports or start investigations into currency manipulation. Senate Democrats will now introduce a bill on Monday that will try to push the issue of China’s currency manipulation, and supposedly open the door for U.S. companies to seek tariffs against Chinese imports if they are found to be artificially keeping their products cheap through keeping it’s currency devalued. Considering our current recession, provoking a trade war with China is a very dangerous thing according to many political insiders, including Jon Huntsman, the former ambassador to China and current presidential candidate who told Fox news, " You take action against China, you can expect them to rebut that action with commensurate tariffs," he said. "During a recession, you don’t want a trade war." 

   China came right out with their opinion about this proposed bill that included a warning when Chinese foreign ministry spokesman Hong Lei last week urged US lawmakers to "reconsider their decision and refrain from pushing through the bill" and warned against "politicizing economic trade issues and resorting to trade protectionism."  And in another  news bulletin, the Chinese government news agency Xinhua has made its views perfectly clear, "It’s generally agreed, too, that structural problems in America rather than the Chinese currency are responsible for America’s economic difficulties….To put it simply, current anti-yuan moves in the U.S. Senate are more like a publicity attempt to attract voters and distract attention from the real problems facing the U.S. economy." (emphasis mine)

With Liberal Democrat’s policies of doing such things as not passing a budget for three years running, $1.5 trillion dollar deficits, and massive big government expansion resulting in our current recession, high unemployment and low-to-zero economic growth, Xinhua news agency’s statement does carry a good amount of weight there. Democrats are staring at  the very plausible reality of losing the U.S. Senate in 2012, (along with the White House) and they look like they are making a desperate attempt to curry favor with voters with this bill.

The U.S. treasury has also refused to officially denounce China’s currency manipulation when they had the chance in May of this year in an official report, which could be part of the reason the Senate is trying to pass this bill and force China’s hand in some way. Should it backfire and start a trade war with China, U.S exporters could really be hurt, along with companies who export their products, and cause the loss of American jobs.

Considering that China has been doing this same devaluing of their currency for over  a decade now, we have to wonder why Democrats didn’t make this move during their 4 straight years of iron-fisted "my way or the highway" Congressional rule of 2007-2011. Considering China’s recent statements about the U.S. Government getting their own house in order instead of trying to tell China how to run their economy, we also have to wonder if this bill isn’t simply all show and no go. (as in useless rhetoric) While some politicians are want to say this will create jobs in the U.S. while setting themselves for  "working for the people" campaign slogans for the 2012 elections, there is no guarantee that the passage of this bill will actually accomplish anything. Our politicians have dug themselves into a very deep hole by letting China get away with currency manipulation for such a long time now, that China basically laughs every time we bring up supposed "tough measures" against them. 

 The White House has not really supported this bill, nor denounced it either. Spokesman Jay Carney did his usual Maytag high speed spin act when asked about this bill:

"We share the goal of achieving further appreciation of China’s currency. As you know, and those in the financially oriented press know,  China has moved some in terms of appreciating its currency. I believe it’s appreciated about 10 percent, adjusted for inflation, since June of 2010. But it’s substantially undervalued, and we need to see continued progress, and we’ve made that clear publicly and privately."

Mr. Carney says he believes China’s currency has appreciated about 10 percent, adjusted for inflation. Would that same adjustment be like the zero-inflation statistic the Obama administration keeps throwing at Americans, while gasoline is still up 65% higher than when Obama took office, food prices are soaring, and the price of electricity is going to really put folks in a bind again this winter? If Mr. Carney and Mr. Obama have made it so clear that China needs to stop devaluing their currency, then why are they still doing it? One could draw the conclusion that while our Congress raised our debt ceiling, and therefore allowed the U.S. government to borrow another 2.5 trillion dollars this summer, maybe Barack Obama was too embarrassed to ask them to stop devaluing their currency while he was there with hat in hand asking to borrow  a few trillion more from them? 

 It will be interesting to watch politicians from both parties stand up in Congress and tell the American people just what tireless workers they are for the people, and what miraculous numbers of jobs that will be "projected" to be created ( in 30 or 40 years) by this "courageous" legislative bill by the wizards of Congress.The very same wizards that have us fast-approaching $15 trillion dollars in debt and staring at record long-time high unemployment and foreclosure numbers. In the meantime, Barack Obama is still screaming at them to pass his fake jobs bill and this country is still running without a budget.  2012 just can not get here fast enough.