FOR IMMEDIATE RELEASE:
March 21, 2000
BUCHANAN BLASTS
LATEST AIRBUS SUBSIDY,
VOWS TO PROTECT U.S.
AEROSPACE INDUSTRY
Presidential candidate Patrick J.
Buchanan released the following statement calling the
European Airbus cartel a direct threat to Boeing and the
American aircraft industry.
"Last week, the British government announced it
would grant a $837 billion loan to BAe Systems to
develop a superjumbo 'Airbus,' a plane whose
mission is to sweep the Boeing 747 from the skies.
"The loan is a first installment of an estimated $12
billion package, whose costs will be underwritten by
European governments and taxpayers. These
socialist subsidies allow Airbus to undercut Boeing on
the world market. Airbus executives once boasted of
their readiness to 'give the planes away,' if
necessary, to seize market share from American
rivals.
"The socialized Airbus cartel has already driven
Lockheed from the skies and squeezed McDonnell
Douglas, which was forced to scrap plans to develop
a new jumbo jet. Now it has Boeing in its gun sights.
The strategy can succeed not because the European
planes are better designed or better built, but only
because they have the backing of a continental
cartel.
"Neither Clinton-Gore nor Bush will ever warn the
Europeans that America will not tolerate their
targeting our aerospace industry for destruction. I
will. In a Buchanan Administration, America's crucial
industries will be defended by the White House from
unfair and cutthroat competition from ungrateful
nations we protected for 50 years."
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