On the recordSeptember 14, 1995
Let me say first of all, one of the things that has not been discussed is the amount of jobs that would be lost. For each $1 billion in sales, these are big ticket items, these things cost 25, 30, 100 million a copy. For each $1 billion in sales that are lost, we lose 16,000 jobs. I wish the gentlewoman would listen to this, the gentlewoman who has been involved in this discussion. For each $1 billion in sales that are lost, we lost 16,000 jobs. If we put a pencil to it, for each 1 percent of unemployment, it costs the Treasury about $42 billion for each 1 percent of unemployment. So one of the things that needs to be factored into the equation is the number of jobs that are lost and what kind of an impact that has on the national unemployment rate which also has a bearing on the deficit that we face every year in the Treasury. So there are other things that need to be factored in.
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