George Voinovich: “Before the tragic events of September 11, one of most pressing issues facing this Nation was what to do about the…”

“Before the tragic events of September 11, one of most pressing issues facing this Nation was what to do about the economy. From the spring of 2000 until September 10 of this year, all the indicators pointed to an economic slowdown, if not a mild recession, for fiscal year 2002. Since September 11, the economy has far worsened. Hundreds of thousands of people have been laid off. Businesses and industry are in dire financial shape, and consumer confidence has plummeted. Several friends of mine in the retail industry have predicted a nuclear winter for the retail industry this holiday season, and many Ohio manufacturers I have talked to have told me they have never seen things as bad. Given the challenges these turbulent times present, I say to my colleagues in the Senate--and to the American people as well--we need to focus on those measures that will stabilize and grow the U.S. economy. The need for fiscal discipline is more important today than ever before.”