[Congressional Record (Bound Edition), Volume 149 (2003), Part 8]
[House]
[Page 11018]
[From the U.S. Government Publishing Office, www.gpo.gov]




               REPUBLICANS FAIL TO TURN RECESSION AROUND

  (Mr. PALLONE asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. PALLONE. Mr. Speaker, our Nation is in a job recession with 2.7 
million jobs lost since President Bush took office, the worst jobs 
record in 40 years. For almost 3 years, the Republicans had the power 
to turn this recession around, and they have failed miserably.
  For the past 2 years, the President and Republicans in Congress have 
repeatedly chosen tax breaks for the elite, and the American people are 
still waiting for one job to be created. Today Republicans are at it 
again with a bill on the floor that amounts to nothing more than a huge 
payback to the wealthiest Americans in our Nation, a payback that is 
disguised in the form of breaks on capital gains and stock dividends, 
two proposals economists conclude will not create jobs or growth in the 
near future.
  Mr. Speaker, at a time when our economy needs a true jolt to reverse 
America's economic skepticism, the Republican proposal will not 
stimulate the economy. The Republican record on economic stimulus is 
uninspiring, and one that should not be extended today. We have had 
enough of it. Let us not continue down this road and this continued 
economic downturn.

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