Max Baucus: “This afternoon the Senate returns to its 7th day of work on this important jobs bill. The case for this bill continues…”

“This afternoon the Senate returns to its 7th day of work on this important jobs bill. The case for this bill continues to grow stronger every day. Last week, for example, we learned that 3.6 million Americans have lost their jobs since this recession began--3.6 million Americans have lost their jobs. The unemployment rate has risen to 7.6 percent and it is rising. Job losses appear to be accelerating. Last year, more than 3 million families lost their homes to foreclosure--3 million families in 1 year--and many more foreclosures appear to lie ahead. We face the worst economic disaster in the lifetimes of most Americans alive today. History will judge how we respond and let us not let this Nation down. In the late 1920s and early 1930s, there were those who questioned vigorous Government response. There were those who fretted about short-term deficit. We were spending too much, they said. History has not judged them kindly. Rather, the consensus of economists came to agree with the great British economist, John Maynard Keynes. Keynes argued that in times of high and rising unemployment, the Government has an important job to do. The Government must make up for lagging demand in the private sector, he said, and the Keynesian school teaches the best way to increase demand is to get money in the hands of those most likely to spend it quickly.…”