Abstract

Editorials

The article presents incidents related to the economics and politics of the world. In the last election Newt Gingrich, new Speaker of the House campaigned for balancing the budget, devolving power from Washington to the states, reducing the size of the federal government, giving more power to the people and deregulation. By championing the WTO, also known as the Uruguay Round of the General Agreement on Tariffs and Trade (GATT), Gingrich endorses to tariff revenue reductions under the agreement, ceding power to the WTO in Geneva to invalidate U.S. laws or impose perpetual trade fines. By contrast, in the Senate, Gingrich's fellow Republicans have serious reservations about WTO Another incident refers to the event in which the U.S. President Bill Clinton started talking about constitutional amendment to encourage prayer in the schools.