[Congressional Record Volume 149, Number 16 (Wednesday, January 29, 2003)]
[Extensions of Remarks]
[Page E111]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




               THE PRESIDENT'S STATE OF THE UNION ADDRESS

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                          HON. DANNY K. DAVIS

                              of illinois

                    in the house of representatives

                      Wednesday, January 29, 2003

  Mr. DAVIS of Illinois. Mr. Speaker, during the 90s' we had ten years 
of solid economic growth. In the past two years, America has entered an 
economic downturn. For the first time in a decade the economic 
indicators--benchmarks showing where we are and where we are going--all 
point down. Job losses in technology and manufacturing have risen 
dramatically and corporate bankruptcies were nearly double what they 
were two years ago. Consumer confidence hit its lowest point in over a 
decade. Even though, the U.S. stock market saw a significant gain 
during the 90s'. However, the bottom has virtually fallen out as a 
result of the events of September 11th. Now every industry is taking a 
huge hit as profits and employment figures head into a downward trend. 
Presently, under the Bush's Administration the country is averaging 
approximately 68,000 workers losing their jobs per month. Resulting in 
the fastest pace for job elimination in more than 20 years.
  The President's speech last night did not mention that his economic 
plan calls for cutting job training and employment funding by $534 
million while unemployment is increasing. The President's plan calls 
for reducing $500 million from title 1, the Federal Government's 
primary program for targeting aid to the most disadvantaged students. 
This cut means 447,000 fewer low-income students will be served by this 
program. Also, the President's proposes to cut $250 million from 
teacher quality initiatives. For heating assistance, the President is 
expecting a $300 million cut from the Low Income Home Energy Assistance 
(LIHEAP) program at a time heating prices are rising.
  While some talk about tax cuts which will primarily benefit the 
wealthiest 1 percent of taxpayers, and do nothing for the bottom 75 
percent, let me suggest that any serious economic stimulus package or 
plan must consider and be focused on the needs of the poor and the most 
vulnerable among us.
  The President should propose a fair fiscal policy that will provide 
more unemployment benefits and health coverage for low to moderate 
income workers. These are the people who spend a larger portion of 
their earned dollars to make ends meet. By expanding unemployment 
benefits for those who have already exhausted their extended benefits 
and continue to seek jobs and health coverage to dislocated workers, it 
would be the quickest way to stimulate the economy.
  Only the Democratic plan focuses on working families and small 
businesses that drives the engine of the American economy. Under its 
plan every worker will get a tax cut and everyone receives the same 
$600 per couple. This fair and equitable tax cut will provide a short-
term stimulus for our economy while allowing the budget to recover as 
the economy strengthens.

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