House Proceeding 09-08-09 on Sep 8th, 2009 :: 0:43:50 to 0:48:40
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0:43:46 to 0:44:06( Edit History Discussion )

Marcy Kaptur: the questions of the american people. and that's just the way it is. i yield back. the speaker pro tempore: miss capture from ohio. ms. kaptur: i ask unanimous consent to address the house for five minutes. the speaker pro tempore: without objection. ms. kaptur: madam speaker, our economy is the issue.

0:43:50 to 0:48:40( Edit History Discussion )
Speech By: Marcy Kaptur

0:44:07 to 0:44:27( Edit History Discussion )

Marcy Kaptur: released its annual global competitiveness report. switzerland has now the united states as the most competitive economy in the world. the united states fell out of first place due to its weakened financial markets and macroeconomic instability. this, madam speaker, is another wake-up call for our country if

0:44:28 to 0:44:49( Edit History Discussion )

Marcy Kaptur: anyone is listening. due to the global economic crisis precipitated by irresponsible u.s. financial institutions, nations throughout the world continue to struggle managing their financial futures. let's take note of an important fact. switzerland maintains a positive trade balance.

0:44:50 to 0:45:10( Edit History Discussion )

Marcy Kaptur: not a trade deficit. in 2008, switzerland enjoyed a $17 billion trade third straight record year. and yet the nation is also now ranked as the most competitive in the world. we have almost $1 trillion trade deficit.

0:45:11 to 0:45:31( Edit History Discussion )

Marcy Kaptur: now, think about this. free-throw fundamentalists here in the united states would say that it's not possible. that you can't be competitive while running an enormous trade surplus. some of them even try to tell us that trade deficits are good. well, here in the united states the free-throw fundamentalists would have us believe we have to rollover for the chinese or

0:45:32 to 0:45:53( Edit History Discussion )

Marcy Kaptur: anybody else who want to dominate our domestic order to be competive, they say. but fas are facts. switzerland is both the nation's most economically competitive nation, according to the world economic forum, while enjoying an enormous trade surplus. madam speaker, we have a lot of work to do here in our country, and in this congress to help

0:45:54 to 0:46:14( Edit History Discussion )

Marcy Kaptur: our nation regain its world leading position in t competitiveness ranking. we now rank, shockingly, 108th this is world in the soundness of our banks. switzerland fell in that category two, down to 44th, but not as far as the united states. in regulation of securities

0:46:15 to 0:46:35( Edit History Discussion )

Marcy Kaptur: exchanges, the united states ranked a dismal 47th in the world compared to switzerland's third place ranking. in property rights, switzerland was first. and the united states, 30th. in infrastructure, that's roads, bridges, so forth, switzerland was first. the united states, 14th. in math and science education

0:46:36 to 0:46:56( Edit History Discussion )

Marcy Kaptur: switzerland was fifth. and the united states 48th. in infant mortality, the united states ranked 36. doesn't that speak to a decent health insurance program in this country? and life expectancy? we were 30th. the quality of primary education, 30th? madam speaker, we have a lot of work to do, our nation is

0:46:57 to 0:47:17( Edit History Discussion )

Marcy Kaptur: losing ground internationally. second place overall isn't bad, but we have to make the necessary investments in our physical and social infrastructure or we'll fall even further. one of the authors of the world economic report, dr. martin, a professor of economics at columbia, put it this way, amid the present crisis it is critical that policymakers not

0:47:18 to 0:47:39( Edit History Discussion )

Marcy Kaptur: lose sight of long-term competitiveness fundamentals amid short-term urgencies. economies are those factors driving productivity enhancements on which their present and future prosperity is built a competitiveness supporting economic environment can help national economies to weather business cycle downturns and ensure the

0:47:40 to 0:48:00( Edit History Discussion )

Marcy Kaptur: mechanisms abling solid economic performance going in the future are in place. we have a lot of work to do as a congress. we need strong financial sector to restore strength to our banks not cosmetic changes. we need investments in infrastructure and and we need health insurance reform. our economic competitiveness as

0:48:01 to 0:48:22( Edit History Discussion )

Marcy Kaptur: a nation and our ability to create jobs hang in the balance. madam speaker, it's time for congress to take the reins and stop the stampede of greed to provide leadership that will help our nation and help our people through these tough times. we want the united states to be a world leader again in job creation, innovation, and economic competitiveness.

0:48:23 to 0:48:41( Edit History Discussion )

Marcy Kaptur: we can do it, but not unless the financial industry is a part of the team. pulling in the same direction, making our country stronger, not putting us further at risk and not taking huge bonuses while 15 million americans remain unemployed. madam speaker, the economy is the issue, the american people