Frank Pallone: “when is President Bush going to level with the American people about the U.S. economy? This past weekend during his…”

“when is President Bush going to level with the American people about the U.S. economy? This past weekend during his weekly radio address he said the economy is on the right track. The President's statement came one day after disappointing job numbers showed our economy only created 78,000 new jobs in May, the smallest number in almost 2 years. Keep in mind the economy has to create 150,000 each month just to keep pace with more workers entering the workforce. Last month's numbers created only half that number. Mr. Speaker, President Bush has yet to create his first job since coming to office 5 years ago. In fact, the economy has to create an additional 24,000 jobs just to get back to where it was when he took office in 2001. Let us compare President Bush's 5-year jobs record to past Presidents. No other modern day President has presided over an economy where not a single job was created over a 4-year period. The Center for American Progress averaged the number of jobs created by modern Presidents who served 2 years. The Center determined the average number of jobs created by those Presidents through 52 months was 5.9 million jobs. The largest job creation came under the last two Democratic Presidents to serve two terms, President Clinton, who created 11.9 million jobs during his 52 months of his Presidency, followed by President Lyndon Johnson who created 7.6 million jobs.…”