[Congressional Record (Bound Edition), Volume 150 (2004), Part 12]
[House]
[Page 16825]
[From the U.S. Government Publishing Office, www.gpo.gov]




                    RICH GET RICHER, POOR GET POORER

  (Mr. EMANUEL asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. EMANUEL. Mr. Speaker, two headlines speak volumes about the 
economic conditions of the middle class in America today: Sunday's New 
York Times headline, ``Hourly Pay is Not Keeping Pace With Price 
Rises''; yesterday's Wall Street Journal, ``So Far, Economic Recovery 
Tilts to the Highest Income Americans.'' And for the middle class we 
have a wage and benefit recession.
  These headlines show that there is two-track economy, one for the 
very wealthy who are doing well, and one for the middle class who are 
struggling to keep pace with their middle-class dreams and providing 
for their children.
  What we have today is a $500 billion deficit all financed because we 
are trying to wage three wars with three tax cuts and showing it cannot 
be done.
  Republicans have chosen to put off addressing America's health care 
crisis, rising tuition costs, stagnant wages, and the ever-elusive 
retirement security.
  As corporate profits boom in America by 16 percent, America's middle 
class are feeling squeezed by stagnant wages and rising health care 
costs. While sales of BMWs and at Neiman-Marcus are rising, same store 
sales at Target and Wal-Mart are stagnant.
  With a record like this, only this administration would wave the 
banner, ``Mission Accomplished'' above the economy. It is time to put 
that banner back where it came from.

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