[Congressional Record (Bound Edition), Volume 153 (2007), Part 14]
[House]
[Page 20036]
[From the U.S. Government Publishing Office, www.gpo.gov]




          THE STOCK MARKET SOARS, AMERICA'S ECONOMY IS BOOMING

  (Mr. WILSON of South Carolina asked and was given permission to 
address the House for 1 minute and to revise and extend his remarks.)
  Mr. WILSON of South Carolina. Mr. Speaker, all Americans should be 
grateful that the New York Stock Exchange closed at a record high of 
14,000 last Thursday. Students benefit as college endowments grew, 
reducing tuition costs. Retirees benefit as retirement accounts 
appreciated. And with increased liquidity, jobs are created for small 
businesses. The stock market in 5 years has soared 91 percent from the 
decline caused by the 9/11 terrorist attacks.
  More than 2 million jobs have been created in the last year, and 8.2 
million jobs have been created since the tax relief was initiated in 
June 2003. This has led to an unemployment rate lower than the average 
of the 1970s, 1980s and 1990s. There is record high homeownership.
  The Republican tax reductions are helping workers. I urge my 
colleagues to act immediately to make the tax cuts permanent so 
American workers, not the Federal Government, can continue to decide 
how to spend their hard-earned money. This proves the point of Jerry 
Bellune, editor of the Lexington County Chronicle, that the earnings of 
America's workers belong to the people and are not a handout from the 
government.
  In conclusion, God bless our troops, and we will never forget 
September 11th.

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