Congress has bailed out everybody, airlines, insurance companies, even car makers. Chrysler is now owned by Germans. Bailout for almost everyone except America's steel industry, which is dying. Since 1998, 25 American steel companies have filed for bankruptcy, with thousands and thousands of unemployed steelworkers losing their benefits, losing their health care, losing their families, losing their homes. Unbelievable. Meanwhile, Daimler Chrysler is now lighting up cigars. Beam me up. Mr. Speaker, I yield back the fact that America cannot build smart bombs with Styrofoam; and we had better take a look at our domestic ability to produce steel for our national defense.
James Traficant: “Congress has bailed out everybody, airlines, insurance companies, even car makers. Chrysler is now owned by Germans.…”
Editor's note · Context
Addressing the lack of support for the American steel industry during a speech on the House floor.
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