[Congressional Record (Bound Edition), Volume 150 (2004), Part 15]
[House]
[Page 19977]
[From the U.S. Government Publishing Office, www.gpo.gov]




                              THE THREE Rs

  The SPEAKER pro tempore. Under a previous order of the House, the 
gentleman from Washington (Mr. McDermott) is recognized for 5 minutes.
  Mr. McDERMOTT. Madam Speaker, the three Rs used to stand for reading, 
writing and arithmetic. Now the three Rs stand for Republican rhetoric 
is not reality. Here is the proof.
  Under this administration, Bermuda has become corporate America's 
favorite destination. And I am not talking about vacations. The Tax 
Code encourages and rewards U.S. companies to set up storefronts 
offshore to exploit their profits, with $75 billion last year alone, 
and avoid U.S. taxes.
  And if the administration has its way, it will get even worse. The 
armored trucks, loaded with U.S. corporate profits, will be lining up 
at the docks waiting to transfer the money out of our country. It is 
made to work that way. Policies by the administration and approved by 
the Republican House are costing the American people between $10 
billion and $20 billion a year in exported tax revenue, money that 
should go for health care, education, senior citizens, and worker 
retraining. The need is there but the revenue is somewhere else.
  U.S. companies deserve to make a profit, but America deserves to have 
everyone pay their fair share to support the country that gave them the 
opportunity to make those profits. Indeed, the administration has put 
corporate interests ahead of America's interests. It is a double-edged 
sword and both sides are hurting the American people.
  More corporate profits are being shifted offshore and more corporate 
expenses are being shifted on to the workers. Over the last 4 years, 
health care premiums paid by American workers have risen three times 
faster than the average earnings. Today, over 14 million Americans 
spend at least 25 percent of their earnings on health care costs.
  And let me clarify something, Madam Speaker, before the Republican 
rhetoric kicks in. Those 14 million Americans, spending at least 25 
percent of their earnings on health care, all of them are under the age 
of 65. It is the middle class, in other words, that is being struck 
under the burden of administration policies that put corporate 
interests ahead of America's interests.
  Over the last 4 years, health care premiums in 26 States have risen 
more than 40 percent. What did the administration do in response? 
Reward the drug companies with more profits and renege on a promise to 
senior citizens. Americans today, old and young alike, are paying more 
and earning less. And Americans are going to be paying a lot more in 
the coming years.
  When the administration exported the U.S. Treasury into the bank 
accounts of the rich, America was left holding an IOU that is a black 
hole on America's future. There is no way to see in it, through it, or 
out of it. Fully one-half of that massive deficit this year alone is a 
direct result of the administration's fiscal binge. They have created a 
mountain of debt and a mole hill of economic progress.
  Despite the Republican rhetoric, the administration is short at least 
100,000 jobs per month. Per month. Despite the Republican rhetoric, the 
American people know that. Consumer confidence was down again last 
month because people are not buying the administration's rhetoric. The 
number of consumers saying jobs are hard to come by went up. Consumers 
drive the U.S. economy. They are worried, and with good reason. The 
number of people living in poverty is up. The number of people without 
health care coverage is up. The number of people who have exhausted 
long-term employment benefits is dramatically up.
  And then, Madam Speaker, there is Iraq. Escalating casualties, chaos, 
and crisis lead the President to conclude things are getting better. 
That must explain why over one-third of former soldiers called up this 
month and ordered to report for active duty in Iraq have not shown up.
  Americans can tell the difference between a photo op in the Rose 
Garden and a reality check in Iraq. Things are not getting better. At 
every opportunity to talk straight to the American people, the 
administration has chosen to sacrifice credibility in hopes of 
perpetuating its story. Trouble is, the real story about Iraq is every 
night on the news. The administration can try and change the rhetoric, 
but the American people are not changing the channel. They know what 
they see and read. They know it is not what the administration claims. 
They know that only new leadership will solve the crisis in Iraq and 
revive the economy at home.
  The administration had its chance, again and again and again and 
again. The rhetoric got better, even as the reality got worse, and even 
as we went further into debt, and even though the debt is the biggest 
we have ever had in our history in 1 year. That is the choice facing 
America. Believe the administration's rhetoric about Iraq and the 
economy, or elect John Kerry to take care of reality.

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