[Congressional Record (Bound Edition), Volume 151 (2005), Part 6]
[House]
[Page 7971]
[From the U.S. Government Publishing Office, www.gpo.gov]




                   GM AND THE AMERICAN FISCAL CRISIS

  (Mr. EMANUEL asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. EMANUEL. Madam Speaker, it used to be said that what is good for 
GM is good for the country. Well, things are not so great for GM. What 
does that say about America?
  Their cars are not selling because they face skyrocketing health care 
costs that put them at a competitive disadvantage with Toyota and other 
companies.
  For every car GM produces, they actually spend more on health care 
than on steel. Yet it is not the United States Congress, the White 
House, seeking to help GM out of this problem. GM's knight in shining 
armor is Toyota.
  On Monday, Toyota's chairman said the Japanese auto maker was 
considering raising its prices in order to give American car makers 
some breathing room.
  Here is what former Governor John Engler from Michigan said of the GM 
crisis: We cannot, with the deficits we face today, step in and help 
this company get back on its feet.
  We are too deep in debt to save hundreds of thousands of jobs and 
help an American company compete and win.
  Today, we are facing a fiscal crisis that is stripping America of its 
ability to compete and win. The health care crisis facing General 
Motors is the same health care crisis facing the Federal Government and 
every American family, and yet we are in debt of nearly $8 trillion and 
unable to compete and win in today's economy.

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