where I come from, trade is a four- letter word, J-O-B-S. But this Congress and this President just do not spell very well. The last 2 rac{1}{2} years since President Bush took office this country has lost 3 million jobs, more than any President since Herbert Hoover. We have lost 2 million manufacturing jobs, mostly which have gone overseas; we have a trade deficit of $450 billion. The trade deficit last month was greater than the trade deficit for the entire year 10 years ago. The trade deficit is 10 times last year what it was a decade-plus ago. We are hemorrhaging jobs with every billion dollars of trade deficit, now up to $450 billion. We continue to hemorrhage jobs. President Bush's answer to this 3 million jobs loss, 2 million manufacturing jobs lost, President Bush's answer is more trade agreements. Congress this week will vote on two trade agreements, one with Singapore and one with Chile. Congress's vote this week will be on these two trade agreements, which are frankly more of the same, more NAFTA, more hemorrhaging of jobs, more weakening of environmental and food safety laws, and all of the values we in this country hold dear. Most of all, these trade agreements with Chile and Singapore are all about jobs. When we look at what has happened with NAFTA in the last 10 years since NAFTA passed this Chamber in November 1993, in these 10 years we have seen a trade surplus with Mexico turn into a huge trade deficit.
Editor's note · Context
Discussing job losses and trade agreements during a speech on the House floor.
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