Political Quotes

“Members should vote ``no'' on the OPIC bill before us today unless we want to double subsidized insurance and loans for the Fortune 500. That is what the OPIC bill does. OPIC is touted as a Government subsidized entity that acts like a private corporation. Nonsense. If it is a corporation, why does it pay no taxes? That is a subsidy right off the top. Why does it declare no dividends? Why does two-thirds of its income come from Treasury securities? Contrary to what we were told yesterday, the AFL-CIO does not support this bill. It has no position. Why? Because some unions support it and some do not. The standard should be not are some jobs made, but are more jobs made than are in fact destroyed. Look at the OPIC Fortune 500, just 4 of them: Ford, 160,000 Americans laid off; Exxon, 83,000 Americans laid off; AT&T, 127,000 Americans laid off; GE, 85,000 Americans laid off. Until they bring in jobs to match Americans laid off, we must vote against more subsidies for OPIC.”