AS UNEMPLOYMENT RATE RISES, HOUSE WHIP CRITICIZES FAILED BUSH ECONOMIC PLAN

“There’s No Independence in Unemployment, Mr. President”

For Immediate Release:

July 3, 2003

Contact:Stacey Farnen
202-225-3130

WASHINGTON, DC – House Democratic Whip Steny Hoyer (MD) released the following statement this morning after the U.S. Department of Labor reported that the unemployment rate rose to 6.4 percent in June and the economy lost 30,000 jobs last month:

 “As we prepare to celebrate our national day of independence, millions upon millions of our friends, neighbors and relatives continue to face the sleepless nights of unemployment.  Today’s news that the unemployment rate has climbed yet again – to a nine-year high of 6.4 percent in June – will undoubtedly be followed by bold claims by the Bush Administration that the economy is poised for a rebound.  But we’ve heard that same tired song again and again.

 “The fact is, this Administration’s economic policies have been a disaster.  When President Bush took office, we had the strongest economy in our lifetimes.  Now the economy is stagnant.  When the President took office, we had the lowest unemployment rate in a generation.  Now the unemployment rate is at a nine-year high and more than 9 million Americans are jobless.  When President Bush took office, we had a record budget surplus.  Now we are expecting the largest budget deficit in American history this year.

 “When President Bush came to office he claimed that tax cuts were an economic cure-all.  Now we see that the medicine he prescribed has led to an increase in unemployment, a stagnant economy and debilitating budget deficits.  This Administration not only has failed to admit its errors, it has refused to offer a responsible plan to jump-start the economy and create jobs.

 “In sharp contrast, House Democrats fought for an economic growth plan that would immediately stimulate our economy and create 1 million new jobs.  And we continue to believe that this is precisely what our economy needs today.”

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