the current subprime housing crisis, coupled with volatile energy prices, rising costs in health care and looming tax increases, among others, have put our country on the dark path of economic slowdown. And although not yet a technical recession, it certainly feels like a recession in the communities that I represent in western Pennsylvania. Clearly, America's hardworking families and employers are feeling the crunch from the slowing economy. While there's a growing consensus in Washington that Congress needs to take action on a stimulus package to stave off further economic challenges, an agreement on how to proceed remains very elusive. In addition to recently participating in a Joint Economic Committee hearing on the state of the economy, I've met with half a dozen respected economists, and I strongly believe that unless Congress acts swiftly on a stimulus package that will inject money into the American economy and incentivize job creation, middle class America will be forced to bear the brunt of our country's economic instability. To be clear, now is not the time for politics as usual. We need to unite to enact sound stimulus legislation that, among other things, will benefit both wage earners and job creators, will encourage investment in good paying jobs, and will put more money back into the pockets of working families.
Editor's note · Context
Addressing the economic challenges facing America and the need for a stimulus package.
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