mr. defazio. the speaker: the gentleman is recognized for two minutes. mr. defazio: we talked about the redtion in tariff exports, that will be blown away if they manipulate their currency and korea is one of only three nations on earth identified as a currency manipulators by our own u.s. terror treasury. does this adeprement preclude currency manipulation? it does not. they remake their val added taxes to all their exports. build a car in korea, don't pay taxes in korea. build a car in the u.s., we cant rebate the taxes under thescurrent laws and when the u.s. car gets to the border of korea, they pay a 10% tax. we'll export autos to korea if they're 20% cheaper than those produced by cheaper labor in koa, not very likely. but let's sa we could. if you buy a u.s. car and you're a korean citizen, they'll audit your taxes. most employers do not allow owners offord automobiles, which are mostly luxury automobiles over there, there are very few foreign automobiles, to have parking spaces at work. and korea does not buy very many cars. they have a 65% mix, 65% o

mr. defazio. the speaker pro tempore: the gentleman from oregon is recognized for two minutes. mr. defazio: this is momentous. we're finally talking about jobs on the floor of the house of representatives. and the united states of america is number one. let's have a little enthusiasm. we're number one. we're number one. and we want to make certain that we continue that status. what are we number one in? we are number one in exporting jobs to foreign lands. over the last 20 years. every day we lose 1,370 manufacturing jobs because there are failed trade policies and guess what? these agreements are duplicates of all failed past trade agreements. now, the chairman of the committee says we're going to have lengthy debate and we will dispel misinformation. well, the first misinformation is that we're having a lengthy debate here on the floor of the house. 4 1/2 hours for three trade agreements, 270 minutes, boy, i a -- boy, a lot of time. not exactly like we're burning the midnight oil around here or working five days a week. couldn't we have a little more time? fast track would have al

mr. defazio. the speaker pro tempore: the gentleman from oregon is recognized for two minutes. mr. defazio: this is momentous. we're finally talking about jobs on the floor of the house of representatives. and the united states of america is number one. let's have a little enthusiasm. we're number one. we're number one. and we want to make certain that we continue that status. what are we number one in? we are number one in exporting jobs to foreign lands. over the last 20 years. every day we lose 1,370 manufacturing jobs because there are failed trade policies and guess what? these agreements are duplicates of all failed past trade agreements. now, the chairman of the committee says we're going to have lengthy debate and we will dispel misinformation. well, the first misinformation is that we're having a lengthy debate here on the floor of the house. 4 1/2 hours for three trade agreements, 270 minutes, boy, i a -- boy, a lot of time. not exactly like we're burning the midnight oil around here or working five days a week. couldn't we have a little more time? fast track would have al

mr. defazio: thanks. as i said yesterday, the noted economist, joseph stiglitz, said our agriculture will displace agriculture in colombia, driving people to produce more coke. don't worry. right next door the colombian drug lords will be able to deposit their money, not worry about the u.s. finding out about it, right next door in panama. these are a series of great trade agreements. the speaker pro tempore: the time of the gentleman has expired. who seeks recognition? the gentleman from texas. mr. brady: madam speaker, proud to yield one minute to a freshman lawmaker who represents a region of texas where international trade means jobs, i recognize -- i yield to mr. canseco. the speaker pro tempore: the gentleman from texas is recognized for one minute. mr. canseco: madam speaker, i rise in strong support of the panama free trade agreement. like the colombian agreement, this agreement has been pending for far too long and i thank the leadership of chairman brady, dreier and camp. . at a time when unempl

mr. defazio, for five minutes. mr. defazio: well, at last it's been a long year. the house this week is finally getting around to considering legislation to create jobs. i mean you got to admit, their objective of delivering on a government the dream of grover norquist so call that you can drown it in a bathtub has kind of a depressive effect on investment and the economy. cutting investment, education, lost jobs, hasn't created jobs. cutting investment in infrastructure, 28% unemployment, construction, l.i. trades, small business that is provide the work and equipment all private sector jobs, not too good. so their pew suit of these -- pursuit of these goals so far this year has had a bit of depressive and negative effect on the economy. but to congrat late the republican leaders finally they have turned to creating jobs this week. three trade agreements. now, these are kind of musty, dusty trade agreements. they were negotiated by the bush administration. unfortunately they have been adopted by the obama administration. nothing ever changes down at the trade rep

mr. defazio, for five minutes. mr. defazio: three years ago after a decade of deregulation, the repeal of glass steagall, the deregulation of derivatives, wall street, the job creators, gambled our economy into oblivion. but they never paid the price. remember? george bush, hank paulsen, secretary of the treasury, kind of a stand in because he was the former chairman of goldman sacks pretending to be senth of the treasury. he took care of his buddies on wall street but he was aided and abetted by none other than tim geithner, chairman of the new york fed. intact, in one of the most outrageous moments of this whole scenario, tim geithner, now secretary of the treasury, although he wasn't chairman of goldman sachs but probably in his future, he decided to pay off the gamblers 100 cents on the dollar when the government had to do the biggest bailout in history of a.i.g. now, that was incredible. 100 cents on the dollar. now at the time i proposed that in fact wall street should pay for its own bailout. that is a tax on spe