Political Quotes

“Mr. Speaker, as the mid-Atlantic region continues to dig out from historic winter snowstorms, it reminds us of our efforts to continue to dig out of the Great Recession. The snow finally stopped falling, yet it has taken us a long time to get back to normal. Thousands of people waited in subfreezing temperatures for days for their power to be restored; thousands more waited days for their streets to be plowed. Despite best efforts, the recovery has taken time. Our economic recovery also takes time. The Great Recession of 2007 has officially lasted for 19 months. It was the longest recession since the Great Depression. Seven hundred forty-one thousand Americans lost their jobs in January of 2008. In the first quarter of 2009, GDP tumbled an astonishing 5.4 percent. By March, the Dow Jones Industrial Average had plummeted more than 53 percent. Unemployment rose to 10.2 percent, a 26-year high. Without immediate action, Mr. Speaker, the economy was on the brink of falling into a devastating depression. With more than 700,000 Americans losing their jobs every month when we took office, we had to act immediately, and we did. The Great Recession lasted 2 years, and a full recovery will take time. But we made significant improvements in all areas of the economy, and we are in recovery now. Second quarter GDP in 2009 slipped 0.7 percent. The following quarter saw a return to economic growth of 2.2 percent.…”