[Congressional Record Volume 155, Number 33 (Wednesday, February 25, 2009)]
[House]
[Page H2635]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  CONGRESS IS INVESTING IN THE FUTURE

  (Mr. CONNOLLY of Virginia asked and was given permission to address 
the House for 1 minute and to revise and extend his remarks.)
  Mr. CONNOLLY of Virginia. Mr. Speaker, I rise to address our current 
economic crisis and the critical need for a budget that offers hope and 
confidence to the American people.
  My colleagues and our citizens understand our Nation's dire fiscal 
crisis. Our Gross Domestic Product continues to shrink; auto sales are 
the worst in decades; personal incomes are declining and job losses 
continue to alarm us daily. In my own district, one of the Nation's 
most affluent, demand for food stamps has grown 73 percent over the 
last year, and local officials say the need is much greater and many 
simply do not apply.
  Home values, the largest source of wealth in my district, have 
declined by as much 32 percent. These are staggering declines. Through 
September of 2008, there were thousands of foreclosures in Prince 
William and Fairfax Counties. Stock in Washington metropolitan 
businesses has declined 41 percent in 2008, a tremendous decrease in 
value.
  However, there is hope. President Obama outlined a vision last night 
for long-term financial stability. The significant investment in 
infrastructure, the expansion of the green economy, the call to bring 
fiscal sanity back to health care embodied in the President's message 
bodes well for the future. I support his economic endeavor.

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