Political Quotes

“this amendment aims to stop the Exchange Stabilization Fund from making loans to foreign countries without the approval of Congress. This amendment has wide tripartisan support, and is being cosponsored by the gentleman from Alabama (Mr. Bachus), the gentleman from Oregon (Mr. DeFazio), the gentleman from Florida (Mr. Stearns), the gentlewoman from Ohio (Ms. Kaptur), the gentleman from Indiana (Mr. Burton), the gentleman from California (Mr. George Miller), the gentleman from California (Mr. Rohrabacher), the gentleman from Ohio (Mr. Kucinich), the gentleman from Texas (Mr. Paul), the gentleman from California (Mr. Stark), and the gentleman from New York (Mr. Owens). Mr. Chairman, the Exchange Stabilization Fund was created in 1934 to allow the government to buy and sell currency in order to stabilize the dollar. Unfortunately, it has become, in recent years, a slush fund for anything the Secretary of the Treasury considers necessary. This is wrong. It must be changed. That is what this tripartisan amendment is all about. Mr. Chairman, in 1995 the House passed a very similar amendment to what I am offering today by a very strong vote of 245 to 183. It passed that amendment then for the same reason that I hope and believe the amendment today will pass.”