FOR IMMEDIATE RELEASE:
September 22, 1999
BUCHANAN CALLS TRADE DEFICIT
'ARMED TORPEDO CRUISING AT BUBBLE ECONOMY'
MCLEAN, VA -- Today, Republican Presidential candidate Patrick J. Buchanan released the following statement:
"July's stunning trade deficit of $25 billion is an armed torpedo cruising directly at America's bubble market.
"More alarming, the merchandise trade deficit in June-the products of our farms and factories-hit $31.7 billion, i.e., an annual rate of $380 billion, or almost 5% percent of GDP. No great nation can sustain such deficits eating at the industrial vitals of the country.
"Yet, as these deficits soar to levels that have shaken the Fed, the free-trade-uber-alles crowd on Capitol Hill seems determined to enlarge them. By calling for China's privileged entry to the WTO, Africa-NAFTA, and extension of NAFTA to Central America and the Caribbean, the GOP Establishment openly colludes with Clinton-Gore in the great betrayal of the American worker.
-------- 30 --------
|
