On the recordOctober 12, 2011
Mr. President, I rise today in the wake of another very sobering jobs report. Unemployment remains stalled at 9.1 percent; 14 million Americans are out of work; another 9 million have been forced into part-time jobs because they simply cannot find full-time employment. These challenging economic times demand that Congress and the administration put aside partisanship and work together in earnest to address the prolonged jobs crisis. Many of the decisions that will come before Congress in the next few months will be difficult ones, including those that must be made to restore fiscal order to our Nation's books. But there are bipartisan measures that we know will create and preserve jobs now. We must work together to advance them. One such measure before us today is the free-trade agreement with South Korea. As President Obama stated last week, this agreement ``will make it easier for American companies to sell their products in South Korea and provide a major boost to our exports.'' South Korea is our country's seventh largest trading partner. The U.S. International Trade Commission estimates that implementation of this agreement would increase our gross domestic product by $10 billion to $12 billion, and annual merchandise exports by $10 billion. The ITC further estimates that the agreement will reduce the U.S. trade deficit with Korea by between $3 billion and $4 billion.…
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