[Congressional Record Volume 154, Number 96 (Wednesday, June 11, 2008)]
[House]
[Pages H5301-H5302]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                     STATE OF THE NATIONAL ECONOMY

  The SPEAKER pro tempore (Mr. Courtney). Under a previous order of the 
House, the gentleman from Rhode Island (Mr. Langevin) is recognized for 
5 minutes.
  Mr. LANGEVIN. Mr. Speaker, I rise today to discuss one of the most 
critical issues facing American families today--the state of the 
national economy. I want the American people to know that this Congress 
understands the struggles facing millions of people. And we have been 
taking steps to provide assistance to those in need. Just last week, we 
heard the troubling news that our unemployment rate jumped from 5 
percent in April to 5.5 percent in May.
  Now in Rhode Island, the problem is even worse with an unemployment 
rate of 6.1 percent. Now I strongly support an extension of 
unemployment insurance to those who exhausted their benefit. And I am 
disappointed that Republicans blocked its passage in the House earlier 
today. Unfortunately, our economic woes are not limited, though, to 
high unemployment. As health care costs and food prices rise, families 
find themselves forced to decide between buying groceries and medicine, 
a choice no person should ever have to make. And compounding problems 
of skyrocketing energy costs have made it tougher for people to fill

[[Page H5302]]

their gas tanks while affordable housing has become also increasingly 
rare.
  We know what the American people are facing, and we are taking steps 
to help. Of the many challenges that we are dealing with right now, one 
important priority for me is to address the housing crisis. Now home 
ownership has become an unreachable dream for many Rhode Islanders who 
face the typical monthly housing payments upwards of $2,200. The 
situation for renters is not much better. The average two-bedroom 
apartment right now rents for nearly $1,200 a month. Meanwhile our 
State's foreclosure rate has risen 20 percent in the last few months. I 
have worked to help Rhode Islanders facing foreclosure, but we need to 
do more at the national level.
  I have been proud to support Chairman Frank's efforts to pass 
comprehensive housing legislation which would significantly increase 
availability of affordable housing nationwide and help those facing 
foreclosure to keep their homes. I am certainly hopeful that the Senate 
will act soon and we will bring swift relief to the American people.
  Our constituents also face skyrocketing energy costs which are eating 
up an ever larger portion of disposable income. The average U.S. 
household spends approximately $1,000 more per year on gasoline than it 
did 5 years ago. Meanwhile oil and gas companies are reaping record 
profits while doing nothing to lower prices for consumers. I think this 
is an absolute outrage.
  I have strongly advocated a comprehensive energy plan to lower costs, 
create jobs and improve our environment. As a short-term strategy, this 
Congress has, among other things, suspended shipments to the Strategic 
Petroleum Reserve to provide more oil to the market. We cracked down on 
price-fixing among energy companies and passed legislation to repeal 
massive tax breaks for oil and gas companies.
  In the longer term, though, we must invest in conservation and 
domestic production of clean and renewable fuels. This will reduce our 
reliance on foreign energy sources while creating new jobs in the green 
energy sector. Unfortunately, the President's stubborn opposition to 
commonsense initiatives has blocked any real progress. I'm going to 
keep fighting to move our Nation forward, toward a more responsible 
energy policy, and I urge my colleagues to join me in this effort.
  Finally, Mr. Speaker, I am concerned about the state of our Nation's 
health care system. Right now, approximately 47 million Americans lack 
health insurance while the rest watch their coverage costs continue 
their steep climb. That is why I've introduced the American Health 
Benefits Program Act, which will provide every American with access to 
the same quality, affordable coverage as Members of Congress. My 
bipartisan proposal offers a practical model to begin reigning in 
costs, improving quality and delivering the same level of health care 
that this country deserves.
  American prosperity, Mr. Speaker, depends on individual economic 
security. Only when Americans no longer have to choose between 
groceries, gas and health care will our economy truly flourish. I am 
committed to improving the economic outlook for the millions who are 
struggling, and I will continue working with my colleagues in Congress 
on this vital and urgent goal.
  Mr. Speaker, I yield back the balance of my time.

                          ____________________