Peter Visclosky: “if NAFTA is such a great deal, why do we have to bailout Mexico? That is the central question that must be answered…”

“if NAFTA is such a great deal, why do we have to bailout Mexico? That is the central question that must be answered before a single dime of our money is placed at risk. The $47 billion bailout is a raw deal for the American taxpayer. Adding insult to injury, the President is taking an end run around the people's elected Representatives and unilaterally placing our money at risk. Since Congress controls the power of the purse, this action raises serious constitutional questions. A depression in the steel industry in the late 1970's and early 1980's cost the northwest Indiana district I represent 50,000 good jobs. The U.S. Government did not bailout a single person who had a mortgage, a car payment, or children attending college. It is flat out wrong for our Government to bail out Mexico without first seeking permission from the American people, through their elected Representatives, whose money will be placed at risk. Mr. Speaker, I urge acceptance of Mr. Taylor's privileged resolution so that we can find out what the bailout really means for the American taxpayer.”