[Congressional Record Volume 141, Number 19 (Tuesday, January 31, 1995)]
[House]
[Pages H899-H900]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                  WE NEED TO BALANCE THE TRADE DEFICIT

  (Mrs. CLAYTON asked and was given permission to address the House for 
1 minute, and to revise and extend her remarks.)
  Mrs. CLAYTON. Mr. Speaker, we should remind ourselves as we 
deliberate and pass policy:
  Who do we help and who do we hurt?
  How do we improve the quality of life?
  This week we are considering legislation to curb unfunded mandates. 
Last week we passed the balanced budget amendment. How do we encourage 
and support economic development in our communities across the country?
  Instead of fighting over whether the Federal Government or States for 
admittedly needed programs and services, instead of making knees buckle 
under the weight of cuts necessary to balance the budget, we should be 
looking for ways to balance the trade deficit with many of our foreign 
partners.
  According to economists, Mr. Speaker, last year the ever-widening 
trade deficit resulted in a reduction of nearly 
[[Page H900]] one full percentage point. In America we imported 27 
percent of the goods we consumed. That is up from 20 percent in the 
last 5 years. Led by the Department of Commerce, U.S. Export-Import 
Bank, U.S. Trade & Development Agency, and the Small Business 
Administration, all are encouraging opportunities for our small 
businesses and our communities.
  We should be about this, Mr. Speaker, instead of saying that we are 
taking away from growth and quality of life. We should be expanding 
jobs and economic development.

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