[Congressional Record (Bound Edition), Volume 151 (2005), Part 21]
[House]
[Page 28540]
[From the U.S. Government Publishing Office, www.gpo.gov]




                          RECORD TRADE DEFICIT

  (Mr. DeFAZIO asked and was given permission to address the House for 
1 minute.)
  Mr. DeFAZIO. Madam Speaker, well, the Bush administration set yet 
another record yesterday. Congratulations to the Bush administration. 
We set the highest 1-month trade deficit in the history of the United 
States, eclipsing the highest deficit figure previous record which was 
set last month.
  We are headed toward a $718 billion trade deficit this year. We are 
borrowing $2 billion a day from people overseas to buy things made 
overseas that used to be made here, and they keep standing up on that 
side of the aisle and saying what is wrong with Americans, can't they 
see the economy is booming? Yes, it is booming, we are borrowing money 
overseas to buy goods overseas, and that makes it look like a booming 
economy while people are losing their jobs here in America, 3 million 
manufacturing jobs left, and these trade policies are driving down 
wages in this country.
  That is their idea of a successful economy, because the CEOs and a 
few investors are doing really well. It is a disaster. No more record 
trade deficits. We need a new trade policy for this country.

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