[Congressional Record Volume 141, Number 23 (Monday, February 6, 1995)]
[House]
[Page H1218]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


 PRESIDENT'S BAILOUT OF MEXICO RAISES SERIOUS CONSTITUTIONAL QUESTIONS

  (Mr. VISCLOSKY asked and was given permission to address the House 
for 1 minute and to revise and extend his remarks.)
  Mr. VISCLOSKY. Mr. Speaker, if NAFTA is such a great deal, why do we 
have to bailout Mexico? That is the central question that must be 
answered before a single dime of our money is placed at risk.
  The $47 billion bailout is a raw deal for the American taxpayer. 
Adding insult to injury, the President is taking an end run around the 
people's elected Representatives and unilaterally placing our money at 
risk. Since Congress controls the power of the purse, this action 
raises serious constitutional questions.
  A depression in the steel industry in the late 1970's and early 
1980's cost the northwest Indiana district I represent 50,000 good 
jobs. The U.S. Government did not bailout a single person who had a 
mortgage, a car payment, or children attending college.
  It is flat out wrong for our Government to bail out Mexico without 
first seeking permission from the American people, through their 
elected Representatives, whose money will be placed at risk.
  Mr. Speaker, I urge acceptance of Mr. Taylor's privileged resolution 
so that we can find out what the bailout really means for the American 
taxpayer.


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