[Congressional Record Volume 141, Number 24 (Tuesday, February 7, 1995)]
[House]
[Page H1298]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




           CONGRESS SHOULD BE INVOLVED IN THE MEXICAN BAILOUT

  (Mr. BURTON of Indiana asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. BURTON of Indiana. Mr. Speaker, I find myself at least in partial 
agreement with my Democrat colleagues. The stabilization fund that is 
being used by the President to help with the loan guarantee for Mexico 
is not for that purpose. That stabilization fund is to be used to 
stabilize and guarantee the value of the dollar, and I cannot fathom 
how using those funds to buy Mexican pesos, for instance, is going to 
stabilize the dollar when the peso is going straight down the toilet.
  I would like to say to my colleagues that I think the Congress should 
be involved in this process, and I support their efforts to try to make 
sure that we are. When we are talking about $40 or $50 billion of 
American taxpayer dollars, the Congress should be involved, not just 
the President.
  This is not a dictatorship. Unilateral action by the White House 
should not be tolerated.

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