On the recordFebruary 6, 2008
as this economy continues to deteriorate and we see these wild gyrations in the stock market, there are a lot of people concerned. Yesterday, the stock market went down over 300 points. I know it has its good days and bad days, but it has had more bad days than good days for a long time. A lot of people in days gone by paid little or no attention to the stock market. My mom and dad did not own a share of stock during their married life. They were too busy raising three kids. They could not afford anything like that. If they could put a few bucks in the savings account to save up for the next used car, that is all they looked forward to. A lot of people view it differently because that stock market reflects the value of 401(k) plans, IRAs, retirement plans, and savings that people count on in years to come. When the stock market is heading south, people are looking at it in worried terms. What we are trying to do is invigorate this economy and get it moving again. For the longest time, the Republicans have argued that the best way to invigorate the economy in good times and bad is to give tax cuts to the wealthiest people in America.
Source
govinfo.gov




