The Democrats’ “Seinfeld impeachment” – it’s about nothing – has very real opportunity costs now being borne by the American people. These opportunity costs may be measured by what Congress is not doing because its legislative calendar is being devoured by impeachment.
Consider, for example, the U.S.-Mexico-Canada trade agreement (USMCA). If House Speaker Nancy Pelosi, D-Calif., took the legislative time to put USMCA on the House floor, it would pass – and likely quickly pass in the Senate. Yet this long-overdue replacement for the North American Free Trade Agreement (NAFTA) has been gathering impeachment dust for months.
The opportunity costs of Pelosi’s failure to even allow a vote on USMCA are the foregone benefits. The International Trade Commission tallies these benefits at almost $70 billion of real gross domestic product growth and almost 200,000 additional jobs. There will be greater market access for numerous American products coming from Wisconsin dairy farmers, Kansas wheat producers, California winemakers and many others.