If I might just review with you and others what's happened since 2007 here in the United States. As this diagram indicates, beginning in 2007, the Great Recession during the George W. Bush administration, reaching its lowest point in December of 2008 and January of 2009 where 750,000 jobs were lost. The Barack Obama administration came in in January of 2009 and within 2 months passed the first stimulus bill which leveled off the decline and slowly began the recovery of the American economy. And most every month since January of 2009 we've seen an improvement, so that in this year, in 2010, we are now seeing small, but important, gains in the employment in America. Some 600,000 jobs have been created over the last several months. This is the result of policies that were enacted by the Democratic Congress, the Senate, and signed by the President. Those policies we need to understand. They began with the stimulus bill and carried on through several other pieces of legislation. In each and every one of those pieces of legislation, there was no help from our Republican colleagues. They were absent.
On the recordJuly 28, 2010
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govinfo.govEditor's note · Context
Garamendi discusses the economic recovery and job creation since the Great Recession.
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