FOR IMMEDIATE RELEASE:
April 21, 1999 - 1:15 PM
BUCHANAN CALLS $300 BILLION TRADE DEFICIT "TUMOR IN
INTESTINES OF U.S.
ECONOMY"
LOS ANGELES, CA.-Today Republican Presidential candidate Patrick Buchanan
called the massive merchandise trade deficit--over $26 billion for
February alone--a "malignant tumor in the intestines of the U.S. economy."
"Unattended, it will one day kill this country's tenure as the world's
mightiest industrial power," Mr. Buchanan said.
"As imports explode, exports continue to shrink. A merchandise trade
deficit of $300 billion a year, which we are now running, is
unsustainable," Mr. Buchanan said. "Continued indefinitely, it will strip
America of the legendary manufacturing and production base that made ours
the most self-sufficient and independent nation on earth."
"Lest we forget, nations produce their way to greatness. Manic
consumption is a mark of a republic that has passed its apogee, and begun
its long descent."
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