On the recordNovember 27, 2012
Well, I would just say, back to the power of America, you hear in this Chamber a lot of tough talk about China. The best way to respond to China is to stand up to them, to compete with them. They cheat on their currency, they treat their workers poorly, they destroy their environment. But whining about China is not going to resolve this problem; investing in America and the American people will. You also mentioned the issue of austerity, and I think it's important to bring up. Historically in this Nation, the economy went into recession. We had the Great Depression in the early thirties. The American economy was starting to show signs of anemic growth right after the Great Depression in late 1936. Congress and the President pulled back with austerity measures; the economy went into recession again. In Japan, in the 1990s, they were experiencing financial problems. They imposed comprehensive austerity measures. That economy remains in a recessionary mode and has been for the last decade. You see what's going on in Europe today; austerity doesn't work. Again, I go back to our recent history. The year 2000, budgetary surplus in this Nation of $258 billion made possible by having created 22 million private sector jobs by investing in infrastructure, scientific research, and education. The best tax policy is not right or left; it's bringing lost taxpayers back to productivity. That's the best, quickest way to do it, and you're helping American businesses in the process.





