Richard Gephardt: “I rise to urge the House Republican leadership to address people's serious economic concerns. Today we awoke to reports…”

“I rise to urge the House Republican leadership to address people's serious economic concerns. Today we awoke to reports on the radio which said that the front pages of major newspapers were dominated by the failed performance of our stock market. Mr. Speaker, our Nation needs an economic plan that will address some of the challenges we face today, like restoring economic growth and opportunity. While the economy is crashing around us, the House Republican leadership continues to answer by passing more tax breaks for the wealthiest Americans and legislation that blames their failure to act on the other body. At a time of mounting economic pain, Republicans have ignored the people's priorities, from investor rights to Social Security, prescription drugs to education, to economic growth. The Census Bureau reported this week that in the last year, the number of people without health insurance rose by 1.4 million due to a faltering economy and the rise in unemployment. Republicans will pass this week another non-sense of the House resolution calling for tax cuts 9 years from now, in 2011. CNN reported this week that U.S. stocks, and I quote, looked to wrap up what might be the worst September since the Great Depression and had their worst third quarter since 1987. In a few days Americans will start receiving 401(k) statements showing another drop, a sharp drop, in their retirement savings.”