[Congressional Record Volume 154, Number 113 (Thursday, July 10, 2008)]
[House]
[Page H6346]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              BUSH ECONOMY

  (Mrs. MALONEY of New York asked and was given permission to address 
the House for 1 minute.)
  Mrs. MALONEY of New York. Madam Speaker, the President can no longer 
deny that the labor market is in recession. June was the sixth straight 
month of job losses, and this year the economy has lost over half a 
million jobs in the private sector. We have 8.5 million unemployed 
Americans, more than at any other time since 2003.
  High prices for gasoline and food are squeezing workers' pay. Real 
wages were lower in June than they have been since September 2006. The 
recovery rebates have been boosting consumption, and millions will 
benefit from the extension of unemployment benefits signed into law 
last week.
  Clearly, we must stem the tide of rising job losses. We need a second 
stimulus package of infrastructure development and fiscal relief for 
our States.

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