Lynn C. Woolsey: “much like its elder cousin NAFTA, CAFTA has promised to raise the standard of living in its poorest member countries.…”

“much like its elder cousin NAFTA, CAFTA has promised to raise the standard of living in its poorest member countries. But thanks to NAFTA, we already know how this story ends. A typical Central American earns only a small fraction of an average American worker's wage. More than 40 percent of workers in the region labor for less than $2 a day, placing them below the global poverty level. Mexico now ranks as one of the world's 10 largest economies. Its overall wealth has increased since passing NAFTA, and, unfortunately, so has its poverty. It is said, ``a rising tide lifts all boats.'' This is not the case for the poor in Mexico and will not be the case for the impoverished people in the Western hemisphere's poorest nations. For this and other reasons, I encourage my colleagues to join me in opposing CAFTA. ____________________”