Ed Perlmutter: “America is in a tough spot today. Today we face one of the greatest economic challenges we've seen in the history of…”

“America is in a tough spot today. Today we face one of the greatest economic challenges we've seen in the history of this Nation. With this great economic crisis comes great responsibility for this body which is vested to represent the best interests of the American people. Madam Speaker, the Bush administration left us with the worst economy we've faced since World War II. Like President Franklin D. Roosevelt did over 75 years ago, we must build a floor under our economic downward spiral and set America on a new, more prosperous course. Since this recession began, 3.6 million Americans have lost their jobs. Last month alone, the country lost nearly 600,000 jobs, the equivalent of losing every job in the State of Maine. Even more troubling is the news that our Nation is expected to lose another 3 to 5 million jobs within the next year if we don't take action now. And it must be taken now. In fact, 2008 was the worst year for job loss since 1945, while unemployment has skyrocketed to the highest level in 26 years. Madam Speaker, Americans are worried. Nothing is on the minds of American workers and families more than the troubled state of our economy.”