On the recordJuly 1, 2010
As we all know, our country is facing enormous troubles like we have not seen since the Great Depression. At the national level, there is clear evidence that some of the actions that the Democratic Congress have taken are, in fact, working. The economy is again growing, and employers are starting once again to hire. In 2009, we saw the Nation's GDP grow by 2.8 percent in the third quarter, representing the biggest 6-month turnaround in our economy since 1980. In each successive quarter, we have continued to see positive GDP growth. Since the end of 2009, we have created jobs every single month; and in the last 3 months alone, we have created an average of over 300,000 jobs per month. This is a dramatic change in direction from when President Obama took office and the economy had previously been shrinking at minus 5.4 percent and we were losing jobs at an average of 726,000 jobs per month under the Bush administration. However, although our economic indicators continue to show that we are making significant progress towards recovery, this does not mean that we are out of the woods yet by any stretch of the imagination.
