last night, President Bush spoke of the bipartisan effort we've seen to put together an economic stimulus package. I have joined this chorus of praise. It is important for us to remember that despite our differences, we can find common ground in pursuit of common good. The stimulus package is in markup today in the Finance Committee. I am confident that Chairman Baucus and Senator Grassley will send a bill to the floor that all 100 Senators can proudly support. We all agree that with our economy ailing, homeowners struggling and energy prices rising, this short-term stimulus plan will help working Americans make ends meet. But I think we also all agree that this is only the first step. A short-term solution will help, but we must create long-term solutions that will treat the cause rather than the symptoms. President Bush suggested last night that this could be accomplished with more tax cuts for the wealthy. We strongly disagree. No one wondering if they can make their next mortgage payment or whether they can afford to retire believes that more tax cuts for the rich will solve this problem. This morning, the Reno Gazette Journal reported that home foreclosures in Washoe County--the Reno area of Nevada--skyrocketed 614 percent in 2007 from the year before. This pain isn't just felt in one area or neighborhood. Foreclosures have risen in all parts of the Truckee Meadows. One realtor said: It's ridiculous. I'm up to 22 right now. A year ago, I had zero.…
Editor's note · Context
Discussing the economic stimulus package and the need for long-term solutions during a Senate floor speech.
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