[Congressional Record (Bound Edition), Volume 155 (2009), Part 24]
[House]
[Page 32030]
[From the U.S. Government Publishing Office, www.gpo.gov]




                          JOB CREATION PROGRAM

  (Mrs. MALONEY asked and was given permission to address the House for 
1 minute.)
  Mrs. MALONEY. Madam Speaker, I would like to respond to my good 
friend on the other side of the aisle from the great State of North 
Carolina who pointed out that there are many jobless Americans. That's 
true, but let's put this in perspective. The last month that former 
President Bush was in office, this country lost over 750,000 jobs.
  Under President Barack Obama's leadership, we are trending in the 
right direction. This last month, we lost 11,000 jobs. The last 5 
months of the Bush administration, they lost well over 600,000 jobs.
  And as Nobel laureate Joseph Stiglitz pointed out at a joint economic 
hearing last week, that job creation during the Bush administration was 
fueled by an artificial bubble. Inflated housing prices and a 
ballooning real estate market spurred consumption and hiring and put us 
in a very dangerous position where we find ourselves today.
  We owe it to the 15 million jobless Americans to invest in aggressive 
job creation policies which will be on the floor today in the 
Democratic jobs program.

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