[Congressional Record Volume 141, Number 15 (Wednesday, January 25, 1995)]
[House]
[Page H605]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  CREATE LOAN GUARANTEES HERE AT HOME

  (Mr. FLAKE asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. FLAKE. Madam Speaker, this morning we have spent a great deal of 
time in Banking talking about a $40 billion potential guarantee to 
Mexico. We heard arguments that the reason we ought to do this is 
because it is good for America; it is good for Mexico, because Mexico 
is on our borders; it will create jobs.
  As I listened to the discussion, and I give consideration to the fact 
that so many of us are talking about reductions in various programs, 
welfare and other programs, I could agree with that if we could also 
make the same kind of passionate arguments for the creation of loan 
guarantees in this Third World nation within our borders. If we could 
conglomerate those communities, give loan guarantees to create small 
businesses, then those persons we bring off of welfare would have job 
opportunities in the communities in which they live. When the loans are 
repaid, we take that money, reinvest it in those communities, create 
more jobs, create more job opportunities, and then we do not have to 
worry about growing welfare or other entitlement programs.
  Madam Speaker, I believe if we are looking for a way to be able to 
solve the probelm of the growing budget in this area, then the best way 
to do it is let us talk about loan guarantees, not just for Mexico. If 
it is good for Mexico, it ought to be good for America to do it here at 
home.


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