Carolyn Maloney: “I would like to respond to the point that the gentleman made. Economists tell us that one of the ways that we climb out…”

“I would like to respond to the point that the gentleman made. Economists tell us that one of the ways that we climb out of recessions--and we're in the worst recession that I've experienced in my lifetime, the worst since the Great Depression--the way we climb out is often small businesses. Small businesses hire and grow. Two out of three people hired in America are hired by small businesses. But at this time their hiring has not moved forward. That's why this subsidy and support for small businesses is so important, and I applaud the President for including it in the American Jobs Act. But because of the economic downturn, localities across our country are having to lay off workers, essential workers who are investors in the future of our young people: Teachers and the protectors of our communities, firefighters and our law enforcement, are being laid off. I want to talk a little bit about New York, the great State that I have the honor of representing, and I have some numbers that I would like to share with you, but they are the same in many localities across the country. In my own State of New York, according to the Congressional Research Service, the estimated grant for the teachers and the first responders would be $1.7 billion, which would save an estimated 18,000 educators and first responder jobs. That's important not only to these families but to the localities. These teachers are needed. These fire and police are needed.…”