Statement on the Bipartisan Economic Stimulus Plan

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i yield one minute to the majority leader, a very wished leader, the gentleman from maryland, mr. hoyer. the speaker pro tempore: the gentleman from maryland is recognized. mr. hoyer: i thank my friend for yielding. before the gentleman who spoke before me leaves, i want to make sure that we correct the record. he said we might go back to the deficits that we had prior to 9/11. i will remind the gentleman that this president inherited a surplus and we had three surplus years preceding the fiscal year 2001 and in fact the clinton administration ended up with a net surplus, the only president in our lifetime to have done so. i know he misspoke and i knew what he meant. i share his view on the deficits. however i'm very supportive of this package because uniquely deficits i think are justified in the time when you have a crisis economically confronting you and you want to stimulate the economy. that is in fact i think classic economics in many ways and is what we hear almost every economist tilling us from conservative -- telling from us conservative economists to liberal economists and in between. mr. speaker, for several years the american people have been confronting an economy that most working people are not being advantaged by. we were told that if we adopted an economic policy in the early part of this administration, that that would turn our economy around. grow jobs. stimulate growth. in point of fact of course we have created about -- less than a third of the number of jobs that were created from 1993 to 2001 have been created from 2001 to today. less than a third in the private sector. six million versus 20 million under bill clinton. this prediction of economic well-being was not in fact true. and it's now abundantly clear that millions of hard-working american families are struggling and that the american economy needs a strong shot in the arm. i want to congratulate my friend, hank paulson, the secretary of the treasury. i want to congratulate the joint economic committee that provided good statistics. our budget committee. ways and means committee. for the work they have done. i want to congratulate mr. boehner and mr. blunt for the leadership they have shown. and i certainly want to congratulate our speaker, speaker pelosi. all of whom work together tirelessly to try to come to agreement. i want to congratulate mr. rangel and mr. mccrery who in a bipartisan way worked together to try to get us to where we are today. i think this is good news for the american public because we are going to vote in an overwhelmingly bipartisan fashion to reach out to try to get this economy moving and help a lot of americans. the number of americans living in poverty, the number of uninsured is up by five million and seven million respectively. job growth has been unimpressive. foreclosures have hit record levels and americans all over this country are struggling. with exploding gasoline prices and increasing college and health care costs. thus i am pleased that members on both sides of the aisle and the white house have come together in the spirit of bipartisanship and good faith to produce the economic stimulus package that we will have the opportunity of voting on today. in particular the speaker, minority leader, mr. boehner, as i said, treasury secretary paulson deserve great credit for their efforts. the speaker clearly has -- as someone who has watched her work on this for the last two weeks, can i tell you she was indefatigable and focused as was mr. boehner. in short this will put money in the hands of hard-working americans to give them the help they need and 24r5eu789 stimulate the economy. that's what economists tell us we ought to be doing. former treasury secretary larry summers told ""the new york times"" last friday, i quote, if this stimulus package -- it, referring to the stimulus package s. a much needed and very constructive step. it will provide some confidence but policymaking will need to be on stand by because more may be needed. . that is obviously a fact. we hope this will do the job, but we will be on alert to make sure that we do not recede further. i'm pleased that this stimulus package adheres to the package that the democrats said for weeks. that it be timely, targeted, and temporary. that's just not a phrase that rolls from your mouth relatively easily. it is a premise or premises on which we have based this package so that it would be ...