My friend from Oregon is exactly right, as is my friend from Mississippi. My friend from Mississippi makes an interesting point, if he will allow me to amplify his statement a little bit, that all over this country there are people who work for $5 an hour and $6 an hour and $8 an hour. And they go to work every day and many of them do not have any health insurance, and we are told that the Government does not have the money to provide health insurance. Their jobs are uprooted and taken to Mexico or to China and we are told, ``Hey, that is the way life goes, that is what the market system is about, no security, you are out on the street.'' They pay unfairly too much in taxes, that is the way the system goes. And nobody is hearing their pain. And then suddenly our friends from Wall Street, who by the way, let us be honest about this, in the last few years have made out like bandits in their investments in Mexico. In the city of Burlington, VT, people put their money in the savings bank to make 3 percent, 4 percent, 5 percent, safe investment; in Mexico people were making 50 percent, people were make 100 percent of their investments. And then suddenly, for reasons that we do not fully know, we know some of them, the economy of Mexico took a tumble and their investments went sour. And how amazing it is, and I remember this when I was mayor of the city of Burlington, it was not the poor people and the working people who came into my office to ask for help.
On the recordFebruary 6, 1995
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govinfo.govEditor's note · Context
Discussing economic inequality and the impact of globalization on American workers.
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