Political Quotes

“tomorrow the Federal Reserve Chairman Alan Greenspan will testify before the Committee on Financial Services on the state of the economy. During his testimony, Chairman Greenspan will undoubtedly argue that ours is a healthy growing economy. But while he is explaining the flattened yield curve, I am hoping he will take the time to explain the curve balls being thrown at America's middle class. As the Wall Street Journal reported today, ``In the past few years, overall consumer prices have risen a little over 8 percent while wages have remained flat for the middle class.'' Gasoline prices, up 55 percent; electricity, 11 percent; health care costs, 10 percent; college costs, 12 percent; and the ability to save for retirement is getting harder and harder. For public servants, like teachers, police officers, and firemen, they are being priced out of the housing market. While he expounds on America's monetary policy, the 10-year note, the housing bubble, Chairman Greenspan should take the time to explain what is happening to America's middle class as they face a flattened wage and rising costs. As their incomes remain unchanged, the barrier to the middle class keeps rising. Mr. Speaker, the questions that Chairman Greenspan needs to answer are the challenges that face today's middle class, not just the 10-year note. ____________________”