[Congressional Record (Bound Edition), Volume 150 (2004), Part 8]
[House]
[Pages 10021-10022]
[From the U.S. Government Publishing Office, www.gpo.gov]




          ARE YOU BETTER OFF NOW THAN YOU WERE FOUR YEARS AGO?

  The SPEAKER pro tempore (Mr. Mario Diaz-Balart of Florida). Under a 
previous order of the House, the gentleman from New Jersey (Mr. 
Pallone) is recognized for 5 minutes.
  Mr. PALLONE. Mr. Speaker, between now and the end of this session of 
Congress I will continue to ask the question, Are you better off than 
you were 4 years ago? And I think whether you answer that question by 
reference to war and peace or education or access to health care or any 
number of topics, the answer is clearly no. But tonight I would like to 
answer that question specifically by reference to the economy.
  Mr. Speaker, when President Bush took office, he inherited a $236 
billion budget surplus and an economy that had created 22 million jobs 
during the 8 years of the Clinton administration, 1.6 million jobs in 
the half-year alone.
  When President Bush took office the projected budget surpluses were 
enough to cover the costs of Social Security during the baby boomers' 
retirement years, and the country was experiencing the biggest drop in 
child poverty in a generation and the lowest poverty rate in 20 years. 
Four years later under President Bush, the President is looking to 
create his first net job. Meanwhile, 8.2 million Americans are looking 
for work. The unemployment rate is 30 percent higher than it was when 
President Clinton left office; 2.2 million private sector jobs have 
been cut on President Bush's watch; and 2.7 million manufacturing jobs 
have been shed.
  One of the major reasons for the current jobs recession is the 
increased exporting of high-paying white and blue collar jobs overseas. 
Consider several examples from the township of Edison, the largest town 
in my congressional district. Earlier this year the Ford plant closed 
leaving more than 900 New Jersey employees without jobs. Last year the 
Frigidaire air conditioner plant closed in Edison and shifted 
production to Brazil leaving 1,600 unemployed residents in Edison.
  You would think the Bush administration would be concerned about 
these job losses; however, President Bush and his economic advisers 
view the movement of American factory jobs and white collar work to 
other countries as a positive transformation that will in the end 
enrich our economy. And for those Americans who have jobs, many have 
seen their household incomes decrease over the last 4 years by an 
average of almost $1,500.
  These cuts in income coupled with skyrocketing increases in 
insurance, health care, gas prices at a 23-year high, and college 
tuition increases averaging 28 percent have made it extremely difficult 
for middle-class Americans to make ends meet. And yet the President 
tours around the Nation touting his accomplishments. Based on these 
numbers, how can President Bush say America's middle class is better 
off now than it was 4 years ago? He simply cannot.

[[Page 10022]]

  Consider, Mr. Speaker, also the government spends $900,000 more each 
minute than it takes in thanks to a historic reversal in fortune during 
the last 4 years. Under President Bush's guidance and the policies of 
the Republican Congress, we have gone from historic surpluses to 
historic deficits, numbering in the $400 billion range this year alone.
  My friends on the other side of the aisle say it is not their fault 
that a war, a recession and a terrorist attack are to blame. I have 
actually heard them call it the perfect storm. But those excuses, in my 
opinion, ring hollow. Republicans are in charge of the White House and 
both Houses of Congress. So what are they doing about the challenges 
facing Americans? Absolutely nothing.
  Do Republicans have a plan to create jobs or to reduce the deficit? 
No. Do they have a plan to stop the outsourcing of American jobs like 
those at the Ford and Frigidaire plants in my district? No. The only 
thing they seem to have a plan for is giving tax cuts to those who need 
them least.
  Americans are facing record job losses, record deficits and record 
debt, and yet President Bush's only economic answer seems to be more 
tax cuts.
  Mr. Speaker, in my opinion it is time the Bush administration 
realizes that shipping jobs overseas and cutting taxes for the 
wealthiest elite in our country will not create jobs. President Bush 
and Congressional Republicans have had 4 years to turn this jobs 
recession around, and they have failed.
  Democrats, on the other hand, are fighting to create economic 
opportunity for all Americans. Republicans are just standing in the 
way. So I ask once again, are we better off than we were 4 years ago? 
The answer certainly with regard to the economy is a resounding no. And 
I think we can say that for so many other aspects of what we have 
experienced here in the last 4 years.

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