Tom Harkin: “It is what I call ``President Bush's economic malpractice.'' The victims are working Americans. As has been stated…”

“It is what I call ``President Bush's economic malpractice.'' The victims are working Americans. As has been stated, unemployment has continued to climb; at 6.4 percent, it is the highest level since 1994. That is 9.4 million people looking for work who can't find any. Under President Bush's misguided leadership, we have lost 3.1 million private sector jobs. This is the first time since Herbert Hoover's administration we have had an administration with a net loss of jobs. What a record. Again, the numbers don't reflect the millions of workers who were laid off and had to take jobs that paid far less. In fact, the unemployment rate, in addition to the unemployed, would include part-time workers who want to work full time but can't find it and discouraged workers no longer seeking jobs. This rose to 10.3 percent in June. We are still losing jobs every month--33,000 last month alone. The economy is limping along. Our national deficit continues to balloon and will reach about $400 billion by the end of this year.”