HOYER ON CONTINUED RISE IN UNEMPLOYMENT

“Democrats Are Fighting to Put America Back to Work”

For Immediate Release:

May 2, 2003

Contact:Stacey Farnen
202-225-3130

WASHINGTON – House Democratic Whip Steny Hoyer (MD) released the following statement today regarding the continued increase in unemployed workers:

“To see demonstrable proof of this Administration’s failed economic policies, one need look no further than the ever-expanding unemployment lines all across the nation.  Since President Bush took office, our economy has lost more than 2.6 million jobs, the worst record of private-sector job growth since World War II.

“Today, the Labor Department reported that 48,000 more jobs were lost in March as manufacturers, airlines and retailers cut their payrolls.  The unemployment rate now stands at 6 percent, its highest level since 1994.

“Yet this Administration continues to carry itself with a cocksure swagger that completely ignores the harsh realities being faced in households across America.  It promised the American people that its mammoth tax cut two years ago would rev up the economy.  And this is the result: 2.6 million unemployed, 2 million pushed from the middle class into poverty, 4 million more without health care insurance, and exploding budget deficits that over time will push up interest rates and further weaken the economy.  So what is the Administration’s proposed solution now?  More of the same: huge tax cuts that would fail to jumpstart the economy, end up in the wallets of the most affluent, and pass tremendous debt onto future generations.

“Democrats are fighting for our stimulus plan and economic policies that will create 1 million new jobs and put America back to work.  When it comes to the economy, the Bush Administration wants to give us more of the same.  That is precisely what concerns Democrats and the American people.”