Sam Gibbons: “some startling news: Last month the Commerce Department announced that the U.S. trade deficit surged to an all-time high…”

“some startling news: Last month the Commerce Department announced that the U.S. trade deficit surged to an all-time high in 1999. The trade deficit rose over 65 percent from 1998, over 65 percent. Mr. Speaker, the U.S. economy is being shipped overseas and the American workers are being left behind unemployed and unable to reach the American dream. And in spite of this indisputable fact, the Clinton administration continues to encourage the expansion of current free trade policy, such as NAFTA, to other nations around the world. Sadly, the President has also failed to mention another fact that the Commerce Department also announced, and that is that the United States experienced record trade deficits with its NAFTA trade partners last year, as well. Seems obvious to me and many of my colleagues here that NAFTA and similar trade policies have caused more harm than good for our economy and for the American workers. Let us not make the same mistake twice. Mr. Speaker, I yield back such ill-conceived trade policies that seem to only trade away American jobs for higher trade deficits.”