[Congressional Record (Bound Edition), Volume 156 (2010), Part 1]
[House]
[Page 390]
[From the U.S. Government Publishing Office, www.gpo.gov]




                     THE LONG VIEW ON JOB CREATION

  (Mrs. MALONEY asked and was given permission to address the House for 
1 minute.)
  Mrs. MALONEY. Mr. Speaker, as we consider new job initiatives to 
create more jobs for unemployed Americans, the Joint Economic Committee 
will be producing a series of charts over the next few weeks to help us 
better understand the economic missteps that led and contributed to 
this great recession.
  This chart goes back to 1992, the year that President Clinton was 
elected. It shows that during his time there was very robust job 
creation in the private sector, and then during the Bush years it fell 
dramatically. This dark line is the job creation, going up during the 
Clinton years, falling dramatically under the Bush administration. It 
also shows that Democrats have been considerably more effective at 
creating private-sector jobs.
  Economic reality was actually even worse than this chart shows. As 
Nobel Prize-winning economist Joseph Stiglitz has pointed out, job 
creation during the Bush administration was fueled by a bubble that 
inflated housing prices and spurred consumption and hiring, and when 
that bubble burst, the bottom fell out.
  We owe it to the millions of unemployed who fell victim to the failed 
economic policies of the past to invest in Democratic job creation 
policies that have actually put people back to work in the private 
sector.

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