Liveblogging dueling congressional hearings on 3 NAFTA deals http://citizen.typepad.com/eyesontrade/2011/07/liveblogging-dueling-congressional-hearings-on-3-nafta-deals.html

Chairman Dave Camp (R-Mich.): We obtained significant reductions in TAA. But the agreement was on substance, not process. See statement here.Camp has a key misrepresentation in his opening statement:"The three trade agreements are a sure-fire way to create American jobs by growing U.S. exports of goods and services – and they do not require one dime of new government spending. The independent U.S. International Trade Commission estimates that the three pending trade agreements together would increase U.S. exports by at least $13 billion. These agreements will create and support jobs here in the United States – 250,000 jobs, using the President’s own measure."

This is a serious misrepresentation. In fact, consistent use of this methodology here would show a job loss from the trade deals, not a job gain.And it's misleading to suggest that these deals don't cost money. In fact, as the Congressional Budget Office estimates have shown, the U.S. government will lose billions in tariff revenue from implementing the deals.Korea FTA itself: $7,355 million over 2011-2021/Colombia FTA itself: $1,400 million over 2011-2021/Panama FTA itself: $6 million over 2011-2021