Clyburn : Failed Republican Economic Policies are Coming Home to Roost
Monday, September 15, 2008
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WASHINGTON, DC—House Majority Whip James E. Clyburn today commented on the recent dramatic activity of the financial markets and the current state of the economy.
“Americans woke up this morning to find that eight years of weakened regulation of the financial industry and failed economic policies of Republicans and the Bush administration are coming home to roost, but the architects of this catastrophe remain deaf to the economic struggles of the American people. Americans are struggling under record job loss, a housing foreclosure crisis, the high cost of health care, food and energy and Republicans remain out of touch— President Bush called the financial crisis on Wall Street an ‘adjustment’ and Senator McCain said this morning that ‘the fundamentals of our economy are strong.’ That’s just the kind of laissez faire attitude that got us into the predicament we’re in.
“The New Direction Democratic Congress has passed comprehensive housing reform and consumer protection legislation. We enacted a strong stimulus package earlier this year and we are crafting a recovery package to create jobs and stimulate the economy. I hope the Republican leadership will tune into the needs of the American people and join in our efforts to strengthen our economy.”
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