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Dec 12, 2006- Predicts Record Deficit in 2006, Says President Must "Reverse Course" on Trade Policy

December 12, 2006

"Although the deficit in October was the lowest since August of last year,we're still on pace for a record deficit in 2006," Kaptur said. "The BushAdministration's trade policy is to drive down the value of the U.S. dollar.That puts us even more at the mercy of foreign investors who finance our debt,and our position becomes more precarious with each passing month. We continueto export our jobs and wealth instead of goods."

We need fundamental change," she said. "I'm hoping the new DemocraticCongress will show the way to energy independence, a renewed commitment to America'smanufacturing sector, and a re-examination of the failed trade policies thathave cost so many jobs, especially in the heartland."

Kaptur, who won her 12th term in November, is the author of the BalancingTrade Act of 2005 (HR 4405), which would require the President to take actionto confront America'sstaggering trade deficits. It would mandate that the President correctimbalanced trading relationships whenever the U.S. trade deficit with anothercountry equals $10 billion for three consecutive years. She said she willintroduce a new version of the legislation in the 110th Congress that willconvene in January with a Democratic majority.