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Washington, Jun 14 - Congressman Adam Smith (WA-09) made this statement following President Obama’s remarks on the economy:

“Recent discussions about the economy outlined today reflect sharp contrasts in visions for our economic future.

“Republicans have historically favored a top-down, trickle-down approach to economic recovery and growth that relies heavily upon indiscriminately cutting taxes, slashing regulatory safeguards, and trusting corporations to do what is necessary for the well-being of Americans.  This approach has been tried time and again, most recently during the last Bush Administration, and has simply not worked.  As a result, our country suffered a financial system breakdown and continues to suffer from the effects of a deep and painful economic recession that has hurt millions of American families.

“Now, Republicans are proposing we try this failed approach again. Our country needs a recovery that is focused on and driven by the middle class.  Only when American families are once again able to purchase what they need and are able to more fully participate in the demand-based economy, will we see a strengthening of our country.

“To achieve this, sound public policies that support individuals and enable them to achieve more from their work are necessary. Businesses must be encouraged to hire, innovate, and remain globally competitive so they can create opportunities for workers to be hired into well-paying and rewarding jobs.  The only way this can happen is through policies that enable us to enact fair and efficient tax reform, improve our transportation infrastructure, education and worker training systems, promote the sale of U.S. products and services abroad, and ensure that economic security and fairness remain our top priorities.”