Economy

Our country is facing the worst economic crisis since The Great Depression. 4.4 million American jobs have been lost since this recession began -- the culmination of the Bush Administration’s failed economic approach and a deficit of over $400 billion. Americans are struggling with unemployment, failing businesses, falling home prices and declining savings.

Democrats are building an economic approach that lifts every American, not just the privileged few. That is why Congressman Lynch supported the American Recovery and Reinvestment Act to create and save 3 to 4 million jobs, give 95 percent of Americans an immediate tax cut, and invest quickly into the economy – 75 percent in the first 18 months.

President Obama has also proposed a major overhaul of the federal financial regulatory structure. As a member of the House Financial Services Committee, Congressman Lynch is committed to working with his fellow Democrats to restore confidence in the integrity of our financial system. Congressman Lynch believes our financial markets must have more robust regulation, clear reporting requirements and better consumer protection safeguards. For this reason, he is a co-sponsor of legislation to create a Financial Product Safety Commission to bolster financial product safety rules, establish a best practices guide for all providers of consumer financial products and conduct continuing studies and investigations of industry practices. The bill would also establish a consumer financial product customer hotline.

Today, too many hard-working Americans are living paycheck to paycheck, struggling to make ends meet, going deeper into debt and worrying that the American Dream is further and further out of reach. That's why Congressman Lynch is fighting for legislation that will make health care, energy, and education affordable for all Americans. In order to bring fiscal responsibility to the Congress, Lynch is a co-sponsor of legislation to reinstitute pay-as-you-go budget rules in the House of Representatives. Pay-as-you-go simply means that the federal government will have to keep its books balanced, just like all working families have to. Anytime Congress increases spending in one program, it will be required to pay for that cost with either a new revenue source or by an equal cut in other budget areas.