[Congressional Record Volume 148, Number 125 (Monday, September 30, 2002)]
[Senate]
[Page S9649]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         BUSINESS OF THE SENATE

  Mr. REID. Mr. President, we have had another unproductive day. As you 
know, we are starting the fifth week on homeland security and the 
Interior appropriations bill. As I said a few weeks ago, it appears the 
other side does not want us to pass these two bills, and they are 
accomplishing what they set out to do. We are not doing the work of the 
country.
  As the Presiding Officer knows, we have lost 2 million jobs in the 
last 18 months. We have had the weakest economic growth in some 50 
years. Business investment has been down in each of the last six 
quarters, the weakest trend in 50 years. There has been a $4.5 trillion 
loss in stock market wealth, the sharpest decline since President 
Hoover--$440 billion lost in 401(k) and IRA retirement savings this 
past year--and the median family income was down last year, the first 
decrease in 12 years. The Nasdaq stock exchange was down to its lowest 
level in 6 years. Of course, it dropped again today. The Dow Jones 
dropped again today. The poverty rate is up for the first time in 10 
years.
  We have a lot of problems with the economy, and we are not addressing 
them. We are focused on Iraq. I have no problem focusing on Iraq, but 
we can focus on more than one issue, and we have not done that. I do 
not think that is good for the people of the State I represent, the 
people the Presiding Officer represents, or anyplace else in the 
country.
  I hope we can change direction from what we are doing now.

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