Shocking Unemployment Numbers Should Compel President Bush to End Opposition to Economic Recovery Bill
December 5th, 2008 by KarinaToday, the Labor Department released statistics showing that 533,000 jobs were lost in November—the largest one-month loss in 34 years. The unemployment rate increased to 6.7 percent and America has lost nearly 2 million jobs this year alone.
Speaker Pelosi:
Today’s shocking unemployment numbers – combined with skyrocketing requests for food assistance – should compel President Bush and Senate Republicans to end their opposition to the emergency economic recovery bill that has been stalled in the Senate.
This bill, which passed the House more than two months ago, will immediately create jobs, provide emergency food assistance to families, and prevent the loss of health care coverage due to state budget cuts. There is no excuse for continued inaction on the part of President Bush and Senate Republicans when Americans are facing the worst economic crisis in a generation.
Our economy cannot wait for a new President, a new Congress, or a new year to provide assistance to millions of Americans who have been ignored by the White House as the economy has steadily worsened.
There is no need to wait — the Senate is back in session next week, and job one should be approving our economic recovery bill. The President should sign it so we can start to revive the economy and help the American people.
The American economy lost 533,000 more jobs last month—the worst one-month drop in three decades. Our unemployment rate, 6.7%, is the highest in 15 years. But though we speak in terms of hundreds of thousands of jobs at a time, we ought to keep in our thoughts the individual families who are struggling this winter.
Their struggles are a final verdict on the failed economic policies of the last eight years. Nothing we can do has the power to instantly turn our economy around - but that is no reason for Republicans to block action. Democrats have a plan to put millions of Americans back to work by reinventing our nation’s worn-down infrastructure, investing in 21st-century energy technologies, assisting the families who are hurting most in this recession, and helping cash-strapped states pay for vital services. Economists widely agree that such steps are necessary and effective responses to a recession.
In his last act of economic malpractice, President Bush continues to resist these vital steps for recovery. But if he cannot be convinced to sign an economic recovery package, the Democratic Congress will ensure that President-elect Obama can sign it quickly after he is sworn in.
Rep. George Miller, Chairman of the House Education and Labor Committee:
Today’s devastating news that our nation lost more than a half million jobs in November is further evidence that we need to move quickly and decisively to put Americans back to work. Our economy will not get back on track until Americans are working again and families feel secure about their economic future.
Our first priority must be to approve an economic recovery plan that will make investments in energy independence, rebuild our neglected infrastructure, and continue to provide relief to families struggling to make ends meet. Economists of every stripe tell us that targeted investments in infrastructure improvements and the green economy will create millions of jobs in the short-term and encourage long-term economic growth.
But, as our nation builds a more resilient economy, we must also ensure that all workers are able to share in a rebounding economy. Workers must be able to earn a fair wage, decent benefits and have the ability to enjoy a secure retirement. I look forward to working with the new Congress and the Obama administration to improve the economic security of American workers and strengthen middle-class families.