Today’s job report shows that if Congress doesn’t act urgently to enact an aggressive economic recovery program, we’ll be facing a category 5 economic crisis. The recession is deepening rapidly. The American economy shed 524,000 jobs in December, bringing the total job loss for the year to over 2.5 million.
We are encouraged by the leadership of President-elect Obama and quick action by Congress to prepare legislation for early passage in the new year. The economic recovery package should be large enough to restore sustainable growth. It should meet the immediate needs of struggling American families by extending and modernizing unemployment insurance and providing food stamps ... more