Peter Visclosky: “I, for one, with the greatest reluctance will oppose it. Because as advertised, WTO was to solve many of our problems.…”

“I, for one, with the greatest reluctance will oppose it. Because as advertised, WTO was to solve many of our problems. It was to be good for America. It was to be good for U.S. workers. We have heard remarks on the floor today about how our exports have gone up over the last 5 years. What has gone up 120 percent over the last 5 years is our trade deficit. Before the WTO was implemented, our trade deficit was $150 billion. This last year, 1999, it has increased to $330 billion. We have heard that the WTO has put money into the American economy. I am concerned about putting money in the pockets of American workers. And from my perspective, that has not happened. In constant 1982 dollars, the average American for that average one hour's worth of work, not stock options, not benefits, not executive compensation, one hour's worth of work is making a nickel less 18 years later, so I do not know whose pocket these profits and these renewed incomes are going into. There has been no progress over the last 5 years, as far as improving international environmental standards. There has been no progress over the last 5 years as far as improving labor rights. And most recently, there has been an abject failure by the President of the United States and this administration to use the WTO as advertised.”