Bill Archer: “Mr. Speaker, this could be a fulcrum moment in America's future. This is an unusually fragile time for economies…”

“Mr. Speaker, this could be a fulcrum moment in America's future. This is an unusually fragile time for economies throughout the world, the likes of which we have not seen for generations. There are only a few things that we in America can do to increase our ability to be a bulwark against decaying economies around the world and prevent their ultimately enveloping us. One thing we can do is demonstrate a clear commitment to resist the suggestiveness of protectionism, protectionism which could drag the whole world into depression. This legislation grants the administration the authority to negotiate trade agreements and bring them back to Congress for an up or down vote. Historically it has been bipartisan, and it represents a key component to preserving our economy and helping the rest of the world for years to come. Trade has been and will always be the force that drives our economic engine. Trade benefits everyone, workers, businesses and consumers. If we are to stay on the right economic road, we should not halt the process of opening foreign markets. We must not. To the President's credit, his policy on trade has been very, very good. It has helped us to continue to keep a growing economy. He deserves credit for that. But it is sad that, today, the administration is withholding its support for this bill, support that was so active last year.”