[Congressional Record Volume 155, Number 27 (Tuesday, February 10, 2009)]
[House]
[Page H1138]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                         ECONOMIC RECOVERY BILL

  The SPEAKER pro tempore. Under a previous order of the House, the 
gentlewoman from New York (Mrs. Maloney) is recognized for 5 minutes.
  Mrs. MALONEY. Mr. Speaker, the January job numbers told Americans 
something they already knew. Things are bad. They are bad all over in 
almost every sector of the economy and almost every section of the 
country.
  In a hearing before the Joint Economic Committee, I asked the 
commissioner of the Bureau of Labor Statistics if there was any bright 
spots in the labor report. And he said, and I quote, ``No. No good news 
comes to mind.''
  These latest job losses add to the overwhelming evidence that we must 
get a recovery package to the President's desk fast. People are hurting 
and crying out all across the country for help from the people in this 
Chamber.
  More than 3.6 million jobs have been lost since the recession began 
in 2007, including the nearly 600,000 jobs shed in January alone. Six 
hundred thousand jobs is equivalent to all the workers in the State of 
Maine.
  My home State of New York has been especially hard hit. Almost 48,000 
jobs were slashed. Familiar and storied names, such as Macy's, Estee 
Lauder, Time Warner, Bloomberg News, and many others, have laid off 
employees.
  We are now hearing that seven States have already exhausted their 
unemployment insurance, and another 11 States may see their funds 
exhausted by the end of 2009.
  More than 2 million homes have gone into foreclosure, and millions of 
other homeowners find themselves owing more to the bank than their 
homes are worth. Because of lost jobs, millions also lost their health 
insurance. Many have lost their savings. An estimated $6 trillion in 
personal wealth has simply evaporated.
  A solution to this crisis requires a bold action and addresses the 
magnitude of our economic woes, and the American Recovery and 
Reinvestment Plan will do just that. The recovery package will create 
or save an estimated 4 million jobs across a variety of sectors. It 
will soften the downturn and foster a solid economic recovery that 
benefits all Americans.
  The U.S. Chamber of Commerce has called for the passage of the 
Recovery Act. The National Governors Association says that they support 
the bill. The bill even has the support of most GOP Governors.
  The latest Gallup poll shows that 80 percent of Americans believe 
that passing a new stimulus plan is either ``important,'' or 
``critically important.'' Even 66 percent of Republicans told the 
Gallup pollsters that it is either important or critically important to 
pass the bill. Perhaps because they know that America's schools, roads, 
bridges, and water systems are in disrepair, and this creates a drag on 
economic growth.
  We have an historic opportunity to make the investments necessary to 
modernize our public infrastructure. We can begin to transition to a 
clean energy economy that will make us more competitive in the future.
  Yes, there are conflicting visions of the perfect bill. Some Nobel 
Laureates in economics say the stimulus is not big enough. Some would 
have us do less. But now is the time to put aside whatever differences 
we might have in our economic theories and put the needs of our country 
first.
  The building where the Joint Economic Committee holds its hearings is 
dedicated to the memory of Senator Everett Dirksen. On the plaque we 
pass every day, it reads, and I quote, ``His unerring sense of the 
possible enabled him to know when to compromise, by such men are our 
freedoms retained. His greatness will forever be an inspiration.''
  President Obama and the Democrats are ready to embark on a bold, 
commonsense plan to turn this economy around, to address the fierce 
urgency of now, and to get this country back on its feet. We urge you 
to stand with us shoulder to shoulder as we act to put America back to 
work.

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