Hoyer: Job Losses Continue to Pile Up As the American Economy Continues to Flounder

WASHINGTON, DC – House Democratic Whip Steny H. Hoyer (D-MD) released the following statement today after the U.S. Department of Labor reported that employers cut 108,000 jobs from their payrolls in March:

    “Everyone understands that our economy goes through ups and downs.  But under the Bush Administration, the most important economic indicators just keep spiraling downward.

    “The Labor Department’s announcement today that employers cut 108,000 jobs from their payrolls in March is the latest indication that this Administration’s economic policy is floundering.  And it follows closely on the heels of last month’s report that the economy lost 357,000 jobs.  In fact, since President Bush took office, the economy has lost more than 2.5 million private sector jobs, the worst record of job creation in 60 years.

    “Equally troubling is the fact that the Administration seems to have no clue how to jumpstart the economy, and get America back to work.   Most economists agree that the President’s so-called ‘growth’ plan – with its emphasis on tax cuts for the most affluent – will not stimulate our economy.  It will only drive us further in deficits and debt.  In sharp contrast, House Democrats have offered a fast-acting economic stimulus plan that would create one million new jobs.

    “The unfortunate reality is that Americans are being squeezed from two directions by this Administration and Congressional Republicans.  While millions have lost their jobs during the first two years of the Bush Administration, the GOP has proposed draconian funding cuts that would leave our social safety net in tatters.  It’s simply not acceptable in the wealthiest nation on the face of the earth that those who have suffered the loss of a job must also suffer the further indignity of going without health care other basic essentials.  Republicans may call that compassion.  I call it incomprehensible.”

 

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