On the recordMarch 4, 2010
Last year, President Obama and the 111th Congress took their oaths of office as America faced the greatest economic crisis since the Great Depression. Since then, our work has been defined by our response to the crisis--by the overriding job of getting Americans back to work. Of course, the most important step toward putting Americans back to work has been the Recovery Act. It cut taxes for small businesses and 95% of families, started thousands of job-creating projects across America, provided emergency assistance to those hit hardest by the recession, saved states from laying off teachers, firefighters, and police officers, and more. And despite the efforts of some partisan critics to call it a failure--even as many of those same critics eagerly take credit for the funds it has provided for their districts-- the Recovery Act is working. The Recovery Act created some 2 million jobs. And since President Obama took office, job losses are down 90%. Our economy is growing again: in the most recent quarter, it grew by 5.9%, the fastest rate in six years, and the second straight quarter of growth under President Obama. All of that is real progress for our economy--but it is not yet success. In recession after recession, employment has been the last sign of growth to turn around. Far too many Americans remain unemployed through no fault of their own, caught in the effects of an economic collapse they did not create.





