CNN Lou Dobbs Tonight-Transcript

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LOU DOBBS TONIGHT

Iraqi Insurgents Attack U.S. Base; 9/11 Commission Staff Lays out Terrorist Plot Against America

June 16, 2004 Wednesday

GUESTS: James Dempsey, Pat Woodward, Martin Sabo, Nancy Pelosi

BYLINE: Lou Dobbs, Jamie McIntyre, Kitty Pilgrim, David Ensor, Lisa Sylvester, Peter Viles, Christine Romans, Bill Tucker

HIGHLIGHT:

Two American soldiers were killed and nearly two dozen injured when Iraqi insurgents attacked a U.S. base in Balad. The 9/11 Commission staff today laid out the terrorist plot against America, such as the original plan to use 10 airplanes to hit targets around the U.S.

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REP. NANCY PELOSI (D), MINORITY LEADER: Well, first we have to stop the hemorrhaging of U.S. jobs going overseas. And the way to do-one way to do that is to cut the tax breaks that corporations get, the incentives they have for taking jobs overseas, reverse that and instead give a tax incentive to those who manufacture in the United States. That, I think first and foremost.

Then we must invest in education to create the workforce of the future and invest in innovation to create jobs of the future. We have to be on the cutting edge. We have to be on the forefront of innovation in order to have an-an advantage internationally. But again, first and foremost, stop the hemorrhaging.

DOBBS: $125 billion, expensive. Where will you get the money?

PELOSI: Paid for-with all of our Democratic proposals, it is paid for. We would get the $125 billion from cutting back some of the tax breaks for multinational corporations. This is in stark contrast to the Republican proposal that they have out there which will cost $350 billion over a ten-year period.

Of that $250 billion, a quarter of a trillion dollars will be added to the deficit, be added to the deficit. Quarter of a trillion of it will not be paid for. And it does not stop the flow of jobs overseas, does not create new jobs in the U.S., does not invest in education and innovation and really does not do much, is not much help to America's working families.

DOBBS: Minority Leader, what-because your party is not in control, what is the likelihood that you could move any of this legislation through?

PELOSI: Well, my hope that we can succeed springs from the need and urgency in our country. You talk to workers every night perhaps workers who participated in our presentation today. It's desperate. This is time for-decision time for America. We either are going to decide in favor of our workforce, of maintaining a strong workforce and market, by the way, for U.S. products in our country, invest in our children's education so they can be part of the workforce for the future or we are just going to have laissez-faire, let the worker be damned and have the jobs flow overseas.

This year it will be about half a million jobs. The next year maybe 800,000 jobs. And this just-the number just grows and grows. And when that happens, that not only undermines the worker, undermines that person's family, it destroys community. That's why I said earlier, we must not forget our American values and a sense of community is an American value.

DOBBS: This legislation that you have put forward, these initiatives, how important will they be and each of the congressional districts, as you enter the campaign this fall?

PELOSI: Well, I would hope, as I say, my hope springing from the need in the country and the-the outcry from American workers that we could accomplish something even before the election. So it wouldn't even be a political issue. But if the Republicans turn a tin ear to the American worker, I think that American workers will register their discontent at the polls. What we will be putting forth, of course, is an agenda to grow the American economy to make us competitive worldwide by creating jobs here at home. To expand access to quality health care. To provide the best possible education for our children. To provide a clean and healthy environment in which they can thrive. Of course, provide for our strong national defense. And do all of this in a fiscally sound way. That will be part of our Democratic message to the American people. But jobs, jobs, jobs, jobs are central to it all.

DOBBS: Congresswoman Nancy Pelosi, House minority leader, we thank you for being with us here.

PELOSI: Thank you, Lou.

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