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(Xinhua)
Updated: 2007-08-02 15:02

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Pat Toomey, president of the Club for Growth, criticized the fact that Congress is suffering from a bad case of amnesia.

On May 4, 1930, 1,028 economists signed a petition urging Congress and President Herbert Hoover to reject a similar protectionist bill. Neither Congress nor the president listened and the stock market plunged dramatically, he recalled.

"Over the past several months, protectionism has reached a fever pitch with lawmakers in both Houses clamoring to attach their names to as many as 50 anti-trade bills," he said.

"Congress hasn't changed much over the past 77 years. Thankfully, economics hasn't changed much either: 77 years after 1,028 economists stood to thwart protectionism yelling 'stop!'" he added.

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