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Congressman James E. Clyburn


Statements

American Recovery and Reinvestment Act Needed in These Difficult Times

February 15, 2009

There were several poignant moments in President Obama’s recent town hall meeting in Fort Myers , Florida . He heard from Mrs. Henrietta Hughes, a woman living with her family in a car because her son lost his job and they lost their home, and Julio Osegueda, a college student struggling to make ends meet on the wages he earns at McDonald’s where he has worked for four years because he couldn’t find another job. Theirs were two of the faces of America ’s economic crisis. Fortunately, media attention to their stories initiated some uniquely favorable responses, but unfortunately their stories are not unique.

America faces the worst economic crisis since The Great Depression. Our economy has lost 3.6 million jobs since January 1, 2008. Last month alone, the economy lost almost 600,000 jobs – that’s like losing every job in the state of Maine. Behind each statistic lies a story of personal economic crisis for an American family or business.

Economists and elected leaders from across the ideological spectrum agreed on the need for bold and swift action – and broadly endorsed the American Recovery and Reinvestment Act (ARRA)to keep the economic situation from getting much worse.

The Congress, working with President Obama, has acted rather swiftly with a bold plan that will create and save from 3 to 4 million jobs. The plan we passed will start us on the road to rebuilding America , making us more globally competitive and energy independent, investing in science and innovation, and transforming our economy for long-term growth. More than 90% of the jobs will be in the private sector, and many of the remaining 10% will be police officers, teachers, and health care workers in our communities.

This plan gives 95% of working Americans an immediate tax cut. It invests more than $100 billion in infrastructure like roads, bridges, mass transit, energy efficient buildings, flood control, and clean water projects. It invests quickly into the economy to get it moving again—75% will payout in the first 18 months. The Economic Policy Institute's analysis of the House-passed recovery package predicts 1.2 million jobs will be created in the first year and 3.7 million jobs by the end of 2010. The ARRA is a job creation and preservation bill that will stimulate an economic recovery in South Carolina and across the country.

All of this is accomplished while providing unprecedented accountability measures built in—providing new federal and state whistleblower protections, strong oversight, and an historic degree of public transparency online at www.recovery.gov.

We welcomed and worked with some of the best thinker—regardless of political persuasion —to create and save jobs to get our economy moving. The verdict is in on the failed policies that got us here, and this plan takes our economy in a new direction.

The folks who called my office opposed to this recovery package are sitting in their homes or at their desks at work. What the President and the Congress are trying to do is keep them in their homes and on their jobs, while helping the thousands of South Carolinians and millions of Americans who have already become unfortunate statistics in this economic freefall. Those already impacted by this crisis aren’t calling my office to voice an opinion on this legislation. They call my office seeking assistance to save their homes or feed their families. It is their voices that resonate with me. It is their plight my duties and faith will not allow me to ignore. Their fate could befall any one of us in these uncertain times. It is time to enact the American Recovery and Reinvestment Act -- a targeted, timely, and temporary package -- so we can start our country on the road to recovery.