On the recordMay 12, 2010
Madam President, I rise to speak about amendment No. 3878. We are in the midst of the worst recession, the worst economic climate since the 1930s. That is irrefutable. We have had record job loss, more than 15 million Americans out of work. In Pennsylvania, some 582,000 people are out of work, with the unemployment rate hitting 9 percent. I know a lot of other States have had double-digit unemployment for a long time, but 9 percent is still more than 580,000 people out of work. There are a number of ways to measure the horrific consequences of this recession--all those individuals out of work, all those families destroyed and communities destroyed, by one estimate $8 trillion of wealth lost by Americans. We can attribute $100,000 per family in negative impact due to what happened on Wall Street. In the midst of that, a number of people in the Senate have worked very hard to try to put in place new strategies to create jobs, to help us continue to recover. The impact of the recovery bill is still being felt. We are recovering. Economic growth has picked up. Job growth has improved substantially, but we still have a long way to go. Despite that, we still have people in Washington who don't seem to get it. They seem to want to continue to protect Wall Street. Time after time, when an amendment is proposed to the Restoring American Financial Stability Act, there are still some who want to protect Wall Street. The choice is very clear. There is no middle ground.…





