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Taxpayers must pay the freight for over-budget train projects
Topic - Clyde Prestowitz
President Obama has stepped up efforts to negotiate far-reaching trade deals with Asia and Europe in his second term, but he faces an uphill battle next year in Congress to gain the same authority his predecessors had to finalize such agreements.
It may have only been a bit of bad-mouthing typical of fans rooting for their home team, but former General Electric Chairman Jack Welch stirred up a hornet's nest of criticism from fellow businessmen and professional economists when he accused the White House of engineering a big drop in the nation's unemployment rate just a month before the presidential election.
Exports have been a rare strength and engine of growth in the U.S. economic recovery, aided by a big push from the Obama White House — but despite the positive signs, the sector has not proven to be the plentiful source of new jobs that many supporters had hoped.
Mr. Prestowitz and others say fast-track authority is not needed to make trade deals.
Trade analyst Clyde Prestowitz said the leaked document shows that U.S. negotiators appear to have been "captured" by the lobbying of large multinational corporations that are trying to protect and expand their patented monopolies on drugs and other intellectual property rather than promote open trade.