[Congressional Record (Bound Edition), Volume 150 (2004), Part 3]
[House]
[Page 3819]
[From the U.S. Government Publishing Office, www.gpo.gov]




                           OUR TRADE DEFICIT

  (Mr. DeFAZIO asked and was given permission to address the House for 
1 minute.)
  Mr. DeFAZIO. Mr. Speaker, well, congratulations to the Bush economic 
team. Yet another record under their belt. Last Friday, it was the 
announcement that no private sector jobs had been created in America 
and that they are presiding over the largest job loss since Herbert 
Hoover in the 1920s, but today, they are touting their record on trade, 
a new record, a $43 billion one month trade deficit, and they say this 
shows the U.S. economy is recovering.
  Why? We are running a large and growing trade deficit. This is 
recovery at the Bush White House, a jobless recovery because they are 
engaging in trade practices that are exporting the manufacturing base 
of this country, now the intellectual technology base of this country. 
They say it is good to outsource jobs, although they are trying to 
change the word there, that is, U.S. jobs sent overseas are good for 
American consumers. The problem is Americans need jobs to be able to 
consume, and under this administration, those jobs are not available 
here because they are being shipped to China, but this is good news, 
says the Bush administration.

                          ____________________