Chuck Grassley: “President Clinton used to brag--and I think correctly--during the years he was President that some 20 million jobs were…”

“President Clinton used to brag--and I think correctly--during the years he was President that some 20 million jobs were created during his Presidency. Those are statistics that speak for themselves. In regard to this debate before the Senate, President Clinton said about one-third of the jobs were created because of international trade. Quite obviously, the last Democrat President talked about the importance of trade. Jobs are created by trade. Those are jobs that pay very good wages--13 to 18 percent higher than the national average. It is estimated 1 in 10 Americans, 12 million people, are employed in jobs related to goods and services. The important issue of trade promotion authority is before the Senate. It has worked, as has already been correctly stated. Presidents since President Ford have periodically have had trade promotion authority. It has led to trade agreements passed by Congress. They are now the law of the land. When it was pointed out--correctly--that Congress has the power to regulate interstate and foreign commerce, that is very true. But remember that Congress does not have the ability to negotiate with other countries--particularly 144 countries in the World Trade Organization--in a way that could be considered an expeditious way of reaching an agreement. We form a sort of contract with the President of the United States. This is not just for Republicans and Republican Presidents.”