I have a strange problem with the way we are talking about our present debate on the surplus. For 30 years, 40 years we never worried about the surplus. We never had a surplus and we spent it all. So, here now, we are about to have a nervous breakdown on whether we are going to have a $150 billion surplus. Oh, my goodness gracious, only $150 billion, my, how can we possibly get along there? What we really should be worrying about is, we are having a manufacturers' recession right now. Why? Well, as a manufacturer myself, and I checked with businesses back home, the main problem we have got is our dollar is the most overvalued currency on the planet today. You should be a tourist traveling anywhere in the world. Everything seems cheap. The reason it is cheap is because our dollar is worth so much more than the value of currency of the place you are visiting. If we could do something to reduce this I think we would accomplish something, but we cannot compete with anybody in the world at the present time with the dollar as long as it continues to be the most expensive currency in the world.
Editor's note · Context
Discussing the economic implications of the U.S. dollar's value and the surplus during a floor speech.
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