Political Quotes

“Yesterday the President, with support of Republican leadership, proposed committing $20 billion to Mexico to prop up the peso. Today the Federal Reserve, behind closed doors, will decide whether or not to raise interest rates yet again. Mr. Greenspan has lobbied Congress relentlessly in recent days on behalf of the Mexican bailout. But by raising interest rates again, Mr. Greenspan will contribute to a further weakening of the Mexican peso. By raising interest rates again, more importantly, Mr. Greenspan will make it harder for American families to pay for houses, to pay for cars, to pay for student loans. And by raising interest rates again Mr. Greenspan threatens to choke off the recovery. Higher rates will also make it harder to pay off the $20 billion the President and Republican leadership wants to send to Mexico. Excuse me, Mr. Speaker, raising interest rates simply makes no sense.”