Louie Gohmert: “The gentleman is exactly right. It seems like the big push is to resolve the issue of what is owed to the bondholders…”

“The gentleman is exactly right. It seems like the big push is to resolve the issue of what is owed to the bondholders who invested money; and, apparently, they are the ones running commercials in some people's districts about, oh, don't do a bailout, because they want to get their full money on what they invested. I sure understand that. But as my friend has pointed out, we can't be sure that there will be any reforms. I know some of our friends, we think, well, there is such massive unemployment. Well, one cure in some places to help with massive unemployment is to lower the minimum wage and get more people to work, and that is being suggested; but in Puerto Rico, I was reading that, for a typical family of three, if someone works a 40-hour-per- week minimum wage job, at the current minimum wage before it is lowered like some people are advocating, the take-home is under $1,200. However, the welfare payments they would be entitled to, typically, on average, would be about $1,800 a month; so sometimes lowering the minimum wage would be a solution. In Puerto Rico, where--and of course I think it is totally appropriate and fair, as the Founders said: If they don't elect one representative to the body that makes taxes, then they have no right to make taxes on us.…”