Lloyd Bentsen: “the reason why we have this insurance program is the same reason why we have the HUD insurance program for homeowners in…”

“the reason why we have this insurance program is the same reason why we have the HUD insurance program for homeowners in this country, low-income homeowners, because the marketplace does not provide for it, just as my colleague from Missouri just said. The other reason we have this program is because our trading partners around the world do this and do it a lot more. So if we are to pass this amendment and unilaterally withdraw from being a competitive trading Nation, we will only drive up the imports in this country, drive down the exports from this country, and cost Americans jobs. By passing this amendment, we will not do anything to bring capital back into this country. OPIC is used in my district where we have companies that are looking for new markets to get into. The Stewart & Stevenson Company builds turbine engines and then sells them throughout the world. And when they sell more engines, they hire more Americans to build them in my district. That is what this is about. So if you want to try and find some pure philosophy that only the United States is going to do, it will be at the expense of the American worker.”