Maurice Hinchey: “I would just add that it is becoming increasingly clear, in spite of all the work that has gone into this bill, and we…”

“I would just add that it is becoming increasingly clear, in spite of all the work that has gone into this bill, and we appreciate the difficulty in balancing all of the things that have to be done, the bill remains an inadequate instrument to deal with the economic problems confronting us in the global community. If we fail to recognize that, we do so at our peril. We are already beginning to see the impacts of the economic crisis in East Asia in the deflation that is sweeping across that part of the world. Just a week ago, representatives from the steel industry were here in the Capitol pleading with this government and the White House to do something about the fact that steel was being dumped on our marketplace from East Asia at prices below production cost. We heard just a few moments ago about the tragedy that is beginning to unfold in the agricultural community of this country. All across the farm belt agriculturalists lists are in dire circumstances. Why? For a number of reasons, principal among them is the fact that their markets are beginning to dry up.”