HOYER: WEAK JOB GROWTH SHOULD BE REPUBLICANS’ WAKE-UP CALL

Democrats Want Tax Reform, GOP Looks to More of the Same

For Immediate Release:

December 3, 2004

Contact:Stacey Farnen Bernards
202-225-3130

WASHINGTON DC – House Democratic Whip Steny Hoyer (MD) released the following statement this morning regarding the disappointing November employment data released by the Bureau of Labor Statistics today:

“Last month’s weak job growth should be a wake-up call for Republicans that their economic program is not working.  Unfortunately for unemployed Americans, they are poised to push more of the same in the face of failure.

“The President already seems willing to abandon his campaign promise to support tax reform to benefit the middle class and help the economy.  Instead, the White House appears to want to use the cover of ‘tax reform’ as a Trojan Horse to push more of the same tax cuts that have failed to create jobs and have helped create historic deficits.

“Democrats are eager to work together with Republicans to reform the tax code and make it simpler, fairer and easier for all taxpayers.

“A weak economy has dangerous consequences for the job market but also the value of the dollar, the stock market, and the United States trade deficit.  President Bush’s economic plan created 4 million fewer jobs than he promised.  When Congress returns in January, Democrats will fight to enact policies that spur economic growth, create jobs and reduce the Republican deficit.”

The Bureau of Labor Statistics (BLS) announced today that 112,000 jobs were created in November, the weakest growth in five months.  The BLS revised downward earlier reported job numbers for October and November.  The hard-hit manufacturing sector continues to see jobs disappear – 5,000 last month alone.  In November, 392,000 workers were actively looking for work but did not find a position, a number that has been consistent throughout the past year.

 

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