The U. S. Economy
TALKING ABOUT A GROWING ECONOMY - Federal Reserve Chairman Alan Greenspan frequently testified before Congressman Saxton's Joint Economic Committee. Greenspan, who retired in 2006, spoke of the many positive signs of the economy, including falling unemployment, low inflation and strong economic growth. Mr. Saxton is the highest-ranking Republican House member of the JEC.
ON MR. SAXTON'S RADAR SCREEN - Lockheed Martin's 4,700 workers in Moorestown, N.J., develop and manufacture radar for the Navy's destroyers and guided missile cruisers. The plant is one of the largest employers in New Jersey. Keeping federal research dollars flowing into developing advanced phased array radar have protected both workers' future job security and sailors' lives at sea. The Aegis radar produced by the plant has been established as the most sophisticated ever built, and has been purchased by Japanese, European and South Korean navies.
U.S. Economy Creating Jobs, Growing in 2007
WASHINGTON, D.C. (Feb. 2007) – A healthy pace of economic growth continues to generate solid employment gains, according to data released separately by the Bureau of Economic Analysis (BEA) and the Bureau of Labor Statistics (BLS). Wednesday, the BEA released data showing that the economy expanded 3.5 percent in the fourth quarter of 2006 and 3.4 percent for the year as a whole.
Today, the BLS released new payroll employment figures reflecting a 933,000 upward revision to the December level of employment, and a 111,000 gain in January employment. (The933,000 upward adjustment for December reflects a large benchmark revision and other adjustments that accumulate over a long term.) According to the BLS, the unemployment rate was "essentially unchanged at 4.6 percent."
House GOP Leader Names Saxton to JEC
WASHINGTON, D.C. (Jan. 2007) – House Republican Leader John Boehner named Congressman Jim Saxton the senior House Republican member on the Joint Economic Committee (JEC), a selection that under JEC rules and procedures leads to a designation as ranking Republican of the full Committee.
"I thank Leader Boehner for this appointment, and appreciate his confidence in my leadership," Saxton said. "I'm looking forward to an active two years focusing on continuation of the economic expansion, monetary policy, pro-growth tax policy, restraint of federal spending, energy policy, and reform of the International Monetary Fund (IMF) and the World Bank," Saxton concluded.
The JEC consists of members from both the U.S. House and Senate.
For more information on the Joint Economic Committee, please visit our website at www.house.gov/jec.
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