Jobs and the Economy

The subprime mortgage crisis, general housing downturn, and resulting turmoil in the financial markets led the U.S. economy into a major recession. Congress has acted and continues to act to address our economic situation, passing the American Recovery and Reinvestment Act into law and considering several measures to mitigate the mortgage collapse.

Our economy can only be sustained by a stable, transparent financial system that serves the interests of American families. The 111th Congress passed long-overdue new rules for Wall Street giving consumers new financial protections. The financial crisis made clear that Wall Street was incapable of policing itself and was in dire need of reform.

Our efforts to revive the economy and put North Carolinians back to work must continue. I will continue to fight for sound policies that help our middle class families, whether it's pushing for middle class tax cuts or making college more affordable. I also believe there is more we can do to strengthen and stimulate our economy, from charting a course back to fiscal balance to helping small businesses, to investing in our long-term national competitiveness.

Related Information

Economic Stimulus Package

Subprime Mortgage Crisis

The Congressional Joint Economic Committee

**File for unemployment or look for work with the N.C. Employment Security Commission