House Proceeding 07-22-09 on Jul 22nd, 2009 :: 1:15:45 to 1:21:50
Total video length: 4 hours 59 minutes Stream Tools: Stream Overview | Edit Time

Note: MetaVid video transcripts may contain inaccuracies, help us build a more perfect archive

Views:63 Duration: 0:06:05 Discussion

Previous speech:

Next speech:

1:15:41 to 1:16:01( Edit History Discussion )

Marcy Kaptur: please, america. i yield back the balance of my time. the speaker pro tempore: the gentleman yields back the balance of hisime. mr. poe from texas is recognized for five minutes. ms. woolsey from california is

1:15:45 to 1:21:50( Edit History Discussion )
Speech By: Marcy Kaptur

1:16:02 to 1:16:22( Edit History Discussion )

Marcy Kaptur: recognized for five minutes. without objection. ms. kaptur: mr. speaker, our whole economy has been trouble for a long ty. we can no longer look at foreclosure rates but ignore our ade deficit or discuss high gas prices without menoning the billions spent on wall

1:16:23 to 1:16:43( Edit History Discussion )

Marcy Kaptur: street. and the growing u.s. debt that results from an economy not in charge of itself. mr. speaker, the health of our economy is not just one number. like wall street profits. it's not just our budget deficit. there are so many more aspects to our economy that weigh

1:16:44 to 1:17:05( Edit History Discussion )

Marcy Kaptur: heavily on how prosperous america could be. those aspects include having grown more depend inter-- dependent year after year on foreign products. this first chart shows since the 1970's how deeply into debt we have fallen in imports coming into our country than exports.

1:17:06 to 1:17:26( Edit History Discussion )

Marcy Kaptur: year after year. for so much of what drives this economy, 3/4 of a trillion dollars more imports in here than are exports now. more foreign imports into the united states means less u.s. jobs. more of our exsports out mean more jobs here.

1:17:27 to 1:17:47( Edit History Discussion )

Marcy Kaptur: our trade deficit has been driven up to nearly 5% of what's called the gross domestic product, a shocking number by any measure, by this growing dependence on foreign goods, starting with oil. whh consumes over half of this deficit and bad trade deals. in fact, when you look at this

1:17:48 to 1:18:09( Edit History Discussion )

Marcy Kaptur: chart, it's hard almost half a trillion dollars is related to imports of energy. with high gas prices and bad trade deals have come growing legions of the unemployed with climbing rates higher and higher. there's been a steady pattern of this deepening crisis over the last several years.

1:18:10 to 1:18:30( Edit History Discussion )

Marcy Kaptur: in fact, it's interesting to look at this chart which shows the relationpship between unemployment, ridesing oil prices, and unemployment -- rising oil prices and unemployment going back to the 1970's with the first embargo of oil from the middle east we saw a huge peak in price and then a huge

1:18:31 to 1:18:51( Edit History Discussion )

Marcy Kaptur: peak in unemployment. the same is true in every succeeding decade in the 1980 's, 1990's, andertainly now. there's been a steady pattern of this deepening crisis over the last 20 years. in 1993 when nafta was rammed through this congress, they said it would create jobs. it did just the reverse.

1:18:52 to 1:19:12( Edit History Discussion )

Marcy Kaptur: there' for our country. in the late 1990 's when they passed pntr for china, they said that will create more jobs here. no, it did the reverse net. more jobs were outsourced. at home in places like toledo, ohio, 15.6% of our people are

1:19:13 to 1:19:34( Edit History Discussion )

Marcy Kaptur: officially unemployed as foreclosures continue, deep huge payouts to wall street continue and 12% of our housing stock foreclosed. the gap between the super super rich and rest of us is getting wider all the time. and those numbers threaten the future of our republic. at a recent job fair in toledo, unemployed workers were able to post video resumes courtesy of

1:19:35 to 1:19:55( Edit History Discussion )

Marcy Kaptur: local television stations. one man, a c.d.l. licensed truck driver in his early 60's said he was looking for anything. and i quote, even something in fast food. we don't look for a work ethic in our area. we look for jobs. but with so many outsourced jobs from televisions to clothing to

1:19:56 to 1:20:16( Edit History Discussion )

Marcy Kaptur: automotive to call centers, american consumers are abdicating their buying power abroad. and losing millions of jobs. unemployment benefits are starting to run out. food pantries are seeing record increases and people are getting desperate. the wealth disparity grows larger every day. don wrote in the capital times

1:20:17 to 1:20:37( Edit History Discussion )

Marcy Kaptur: in madison, wisconsin, the 400 richest americans who now own more than the bottom 150 million americans increased their net worth by $700 billion during the eight years of the bush administration. i think one can ask, isn't that enough? are they filled up yet?

1:20:38 to 1:20:58( Edit History Discussion )

Marcy Kaptur: in 2005 the top 1% claimed quarter of our national income. and the top 10% of earners in this country took fully half of the it's even worse now. the superrich taking the largest share of our national income since, are you ready for this, since 1928, the year before the

1:20:59 to 1:21:19( Edit History Discussion )

Marcy Kaptur: wealth gap. and yet we are listening to the super, superrich whining because weant them to pay for a health care system that will help make our nation competitive in the global marketplace so we can recapture some of the lost jobs. we can't fix our country by simply fixing things on wall street for those who are superrich or pandering to the

1:21:20 to 1:21:42( Edit History Discussion )

Marcy Kaptur: complaints of the richest of the rich. or the wall street bankers that have outsourced so many of these jobs. that'sow we got here in the first place. we need to fix this country by reducing our trade deficit, cutting our dependence on foreign oil, helping hardworking americans who are doing the best to make ends meet, and who want to work. and pting our accounts back in order.

1:21:43 to 1:21:51( Edit History Discussion )

Marcy Kaptur: listen to the over 250 million americans not just the top few who are asking us to make america, all of us, rich again