On the recordMarch 29, 2004
that is another way of basically saying we have had no meaningful job creation for the last 3 years. So we have a $7 million job deficit and we basically had an experiment and that experiment failed. The President basically said these very large tax cuts for the wealthiest among us, those who are over $200,000 a year, we are going to create millions of jobs. It failed even to keep pace with just population growth. There is four and a half million jobs missing that should have been there just to keep pace with population growth, and then there are 2.2 million jobs lost on top of that. So we are in a deep, deep hole; and whatever we are going to say, if we add one job now, we are still at the bottom of the well. So maybe we are one inch off the bottom of a 7 million foot well, if you will. We have got a long ways to go. Second point is the reason Congress needs to act now is that these figures belie the severity in the length of this unemployment. Because we have over 2 million people who are unemployed tonight who have been unemployed for more than 6 months. That is the longest period and the largest number of people who have been unemployed over 6 months for over 50 years in America.
Source
govinfo.gov




