John Hall: “times are rough right now. Signs of economic turmoil are multiplying, and we seem to be headed for, or already are in, a…”

“times are rough right now. Signs of economic turmoil are multiplying, and we seem to be headed for, or already are in, a recession. Last week stock markets around the world dropped precipitously, and only an emergency rate change by the Federal Reserve prevented them from falling even farther. The people I represent in the Hudson Valley have been particularly hard hit. Oil has passed the $100-a-barrel mark, making it more expensive than ever for people to heat their homes and drive their cars. In suburban communities in the Northeast, like the area I represent, home heating bills are up by more than 30 percent over last year. Expenses are rising; wages are stagnating. As a result, families struggle to pay their everyday costs. Our debts increase and investment in our future plummets. Congress must act quickly. I am proud that this Congress will pass legislation today to stimulate the economy to help people and businesses, but especially the working families who need it most.”