On the recordFebruary 2, 2009
I rise to speak on the stimulus bill in front of us. Our economy is certainly in great difficulty. The American people are suffering. Look at the numbers. They don't tell what is in people's hearts or what is happening to their pocketbooks, but it does paint a bleak picture. Real gross domestic product declined 3.8 percent in the fourth quarter this past year. Consumer spending, which is nearly 70 percent of the economy, was down 3.5 percent. We had weak consumer spending, weak exports, weak investment. That translates into a bad job market. I don't think anybody questions but that we are in difficult economic times. For the past 12 months, the economy has lost nearly 2.6 million payroll jobs. From Friday's forecast, the estimates ahead are looking at another 500,000-plus jobs lost during the month of January. Ouch. That is bad. It is hard. It is difficult. The economy is in very difficult shape, and people are suffering. I wish to see President Obama succeed in helping to move the economy forward. I wish to see Congress be a constructive part of the process. I believe we can do both.
Source
govinfo.gov




