Bill Pascrell: “I might add that there is no real evidence to back up the contention that this is an economic stimulus. In fact, if all…”

“I might add that there is no real evidence to back up the contention that this is an economic stimulus. In fact, if all of the data are in, whether we are talking about the balance of trade, which is now $435 billion, no one wants to address that. The relationship between that balance of trade and what goes on in the economy in the United States is profound, is profound. There is no real evidence that points out what the President's press secretary said on Monday. He said, the President believes that Trade Promotion Authority is the stimulus in and of itself to keep the economy growing. Well, first of all, Fast Track is necessary for the administration on two fronts, the World Trade Organization and the proposed Free Trade Area of the Americas, FTAA. They are both long-term goals that are not going to bring any stimulation to this economy over the next 2 or 3 years. We are only kidding ourselves. In terms of the WTO, the World Trade Organization, disappointed that this body has progressed to where it should be, within this Fast Track bill there is nothing we can do about that either, nothing. The WTO can be a body that advances the ball on such issues as labor and the environment but only if we force the issue, and I might add, over 25 years we have forced the issue on workers rights and environmental protections to no gain, to no gain. It has been talk, it has been cheap, and it has been profuse, but it has not brought a change about in our trade policies whatsoever.”