March 28, 2006

Schumer-Graham Postponed

After discussing their findings with Treasury Sec. John Snow (behind closed doors), Schumer and Graham postponed the vote on their 27.5% tariff on Chinese imports until the end of September (chances are it may conveniently fade away long before that date). Schumer talked as though China's end to a "fixed currency" was a new development (the USA Dollar peg ended last Fall) and somehow a result of his presence before the Mandarins at Zhongnanhai. Lindsey Graham is now "optimistic" the Chinese are moving in a directon away from alleged currency manipulation, revealing a defeat for Bob Pamplin and Graham's textile interest donors.

Does this signal defeat for Senate bill 295? Or a postponement until time for frothy pandering before election polls later this year?

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