Washington, DC -- Congressman Eliot Engel (D-NY-17) said the latest economic news – months of declining jobless rates, General Motors recording its biggest profit ever after surviving disaster thanks to a government assistance, new jobless benefit filings at a four-year low, housing starts up 1.5 percent – showed the economy is recovering.

“This is good news, but we cannot ease up on the throttle.  Congress can help with a jobs bill as a springboard to a stronger economy.  The steady decline in the jobless rate, an upturn in the housing rate, and the dramatic reversal for GM proves that the loan program worked.  Millions of jobs were saved, and a vital American industry was rescued. 

“Republicans opposed the auto loan program and continue to refuse working with Democrats, or the President, on legislation to help create jobs.  One perfect opportunity would be to pass a robust transportation bill, but the travesty promoted by House leadership fails on so many levels.  Instead the Tea Party-led Majority is fixated on an ideological agenda, not on helping middle and lower income families.  Too many people remain out of work, and many factors exist which could derail our recovery, but there is no denying that the clouds are beginning to clear,” said Rep. Engel.

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