mr. speaker , i thank the gentleman for yielding me time . 
mr. speaker , in 1994 i supported the establishment of the wto . 
i supported the establishment of it because the creation of the wto was supposed to lower trade barriers . 
the wto was supposed to include developed and developing countries , and environmental and labor standards were expected to rise for all . 
the wto was created with the assumption that the rules would be applied fairly to all . 
today , i am voting against the wto because it has failed to deliver on any of its promises . 
the wto was created by sovereign nations to create a true international trade community , but today the wto is manipulated by multinational corporations with a loyalty to nothing but their bottom line . 
these multilaterals are patronizing , not patriotic . 
they treat human labor as nothing more than disposable machinery . 
the only discernable labor standard under the wto is exploitation . 
under the wto there are two environmental standards , pollute and to spoil . 
moreover , there is no transparency at the wto . 
who is in charge ? 
the wto is grossly prejudiced against u.s. interests . 
as one of my colleagues mentioned earlier today , the u.s. has lost 42 of 48 cases . 
i am proud to be an american citizen . 
i understand , however , that the united states is not always right . 
but only 12 1/2 percent of the time ? 
worse , the wto struck down steel safeguards that were put in place after record levels of illegal steel dumping caused more than 40 steel companies into bankruptcy and more than 50 , 000 steel workers to lose their jobs . 
in 1994 , the last full year before the wto came into existence , the united states had a trade deficit , unfortunately , of about $ 150 billion . 
during 2004 the u.s. trade deficit hit an all-time high of $ 650 billion , an increase of 333 percent . 
we have clearly benefited under the wto . 
a more frightening figure is that the u.s. trade deficit last year with china alone was more than our trade deficit was with the entire world the year before the wto was created . 
as we debate this resolution today , we will borrow an additional $ 1.7 billion in these 24 hours for our children to pay off for the rest of their lives just to finance the trade deficit we are accumulating today under the wanted wto . 
i appreciate my colleague from vermont for bringing this resolution to the floor . 
i support it and ask my colleagues to do so as well . 
