On the recordNovember 13, 2001
I want to take a minute and talk about the matter before the Senate, which is the economic recovery package, the stimulus package. I say to my colleagues here, and to others, that, again, this is one where the President --I know he is meeting with President Putin, and the subject matter is obviously the war against terrorism in central Asia. But it is also going to be very important in the prosecution of that war that we convey to the American public our deep concern about the present condition of our economy, and that there is clearly a recession. The unemployment numbers are getting worse. Last month we had the highest increase in unemployment in 20 years. There is every indication that this economic downturn will be with us for some time. We have seen a staggering number of people lose their jobs, particularly at the lower end of the economic spectrum. I hope the President will be asking us to extend unemployment benefits for these people who have lost their jobs. First of all, it is a wonderful way to provide some stimulation because these are dollars that must be spent. The people on unemployment don't have the luxury, having lost their jobs, of opening up a savings account. They are trying to provide for their needs on a daily basis. Those extended unemployment benefits are dollars that end up in the marketplace.…
Source
govinfo.gov




