Judy Chu: “The effects of the foreclosure crisis and economic downturn have had a devastating impact on American families. Because…”

“The effects of the foreclosure crisis and economic downturn have had a devastating impact on American families. Because of shoddy business practices and enormous risks taken by big banks, our housing and financial systems have utterly collapsed. And in the wake of this destruction, millions of Americans have lost their jobs, their homes and their quality of life. As the casualties rose and homeowners clamored for some relief, the government stepped in to do what it could. But with the scope of the problem, government foreclosure relief programs alone just aren't enough. We should do more--more to fix the housing market and more especially to create jobs, because putting people back to work will do more to right our economy, help people pay their mortgages and get the banks back to lending than anything else. But the Republican House leadership hasn't gotten the message. In the last 10 weeks since the Republicans took control of the House, they haven't created a single job. What's worse, they haven't even put a single jobs bill on the House floor. Instead of creating jobs, they are slashing them. The GOP spending plan eliminates 700,000 jobs and stifles economic growth. Rather than moving the Nation forward, they are forcing America backward. And this week is no different. Republicans are making things worse for American families as they continue their assault on the middle class.”