Peter Visclosky: “I rise in opposition to fast track, given the experience historically we have had with NAFTA. We have had 124,000 jobs…”

“I rise in opposition to fast track, given the experience historically we have had with NAFTA. We have had 124,000 jobs certified as having been lost because of NAFTA. I would remind my colleagues the math works out to 72 workers a day since the inception of NAFTA have lost their jobs. Before the end of business today, 72 more American citizens are going to be certified as having lost their job because of NAFTA. I rise in strong opposition to fast track. But in fairness to the other side, there are potentially some reasons why Members might want to vote for it. The average real hourly wage in 1973 was $12 an hour. In 1997, it was $12.28, about 1 penny a year increase. If Members think that is enough for the American workers they represent, maybe they do want to vote for fast track. If Members think that every household in America ought to have two workers for what one worker could provide in 1950, then fast track is for them. Thirty percent of American households in 1950 had one worker. Today, 53 percent need two workers. If Members think it is a good idea to have a trade deficit with Mexico and other countries instead of trade surpluses, this is the thing for them. In 1993, we had a trade surplus with Mexico of $1.7 billion. Today, our deficit is $14.5 billion.”