Here’s a summary of why CAFTA is another sellout of the American public:
No. 10: Our trade deficit actually shows how strong the economy is. That’s a lot like arguing that the more you go into debt, the richer you really are. Here’s what happened with NAFTA: Our trade deficit with those countries is 12 times bigger than before the pact — it shot up from $9 billion in 1993 to $111 billion last year. A high trade deficit weakens our economy.
No. 9: CAFTA slows immigration. This same false promise was made under NAFTA, and we all witnessed the opposite result of increased immigration from Mexico. CAFTA has back-door provisions that may make U.S. immigration laws and visa requirements in violation of the agreement, and unenforceable.
No. 8: CAFTA opens a substantial market for U.S. goods. Central America has some of the poorest countries in the world, and the aggregate economy of the six CAFTA nations is minuscule. “Add up the six CAFTA economies and you get a market the size of New Haven, Conn.,” points out trade analyst Alan Tonelson of the U.S. Business and Industry Council. Tonelson concludes that CAFTA is a “classic outsourcing agreement” — an arrangement in which the only significant U.S. export would be manufacturing jobs to poor, low-wage nations.
It gets better. Read the whole thing.