[Congressional Record Volume 140, Number 96 (Thursday, July 21, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: July 21, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
                           AMERICA'S ECONOMY

  (Mr. HILLIARD asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. HILLIARD. Mr. Speaker, many Republican Members of this body say 
they doubt the statistics and data which confirm that our American 
economy is doing better under this Democratic administration than it 
has done under both Reagan and Bush. That is really hard to understand 
when you consider the plain facts. For instance, the last 
administration's unemployment rate was 7.7 percent, whereas today's 
rate is 6 percent. The Joint Economic Council tells us that consumer 
confidence is at its highest level in over 4 years. Business investment 
in equipment in 1993 was at its highest level in 20 years, and 
according to Fortune magazine--which is by no means associated with the 
Democratic Party--chief executive officers of large, and small 
businesses are more confident in the economy than they have been in 
over 10 years.
  This good news concerning our economy, is more than just ink and 
paper, it is real. But, as they say in Alabama, ``the proof is in the 
pudding.'' We just located in my congressional district in Alabama, the 
biggest industrial plum in the Nation. I am speaking of the brandnew, 
first-ever in America. Mercedes Benz manufacturing facility. It will 
employ literally thousands of Alabamians. In closing, I would like to 
tell my Republican friends, ``Yes, we are on the road to economic 
recovery. Hop aboard this American phenomenon and enjoy the ride.''

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