Maurice Hinchey: “this is a very popular measure, this lockbox proposal. It enjoys wide bipartisan sponsorship and even broader support…”

“this is a very popular measure, this lockbox proposal. It enjoys wide bipartisan sponsorship and even broader support here in the House, and perhaps that is equally true in the other house as well. But I think it is important that at least a few iconoclastic voices be raised in opposition to this measure so that we might more adequately and more deeply reflect on what we are doing and the consequences of those actions. We have a basic responsibility here in the House of Representatives, even more so than the other house, to manage the economy, to make sure that we have a system of economic growth and prosperity, that we are creating jobs and creating economic opportunity for all Americans. I know that the Members of this House take that responsibility very seriously. Unfortunately, however, we are focusing our attention only on one aspect of our economy, and we have been doing that for far too long now. That is this deficit, the budget deficit. Focusing our attention on the budget deficit regrettably takes our attention away from two other deficits that are at least equally important and perhaps even more so: One is the trade deficit. I will not talk much about that. The other is the investment deficit. We have a substantial deficit in the investment in the future of this country. It has been estimated that that deficit ranges as high as $1 trillion a year.…”