THE LEADER'S REPORT: WEEK OF SEPTEMBER 29, 2008

This past week, Congress worked in a bipartisan manner to pass the Emergency Economic Stabilization Act, which the President signed into law today. This legislation takes immediate action to address the economic crisis afflicting Wall Street and Main Street. Without this legislation, millions of Americans would have felt a loss that they did nothing to deserve. What happens on Wall Street effects the jobs, retirements, homes, and the dreams of millions of Americans. If disaster strikes those few square miles in Manhattan, it will spread until every one of those jobs and retirements and homes and dreams is in danger. By passing this legislation, we  hope to protect the economic security of millions of Americans.

Today, the Bureau of Labor Statistics released the September jobs report. Their analysis showed that in September alone, the country lost 159,000 jobs, bringing the total jobs lost in 2008 to 760,000. While the economy is already reeling from the recent failures on Wall Street, everyday Americans are struggling to make ends meet.  To assist those men and women currently unemployed due to unforeseen economic conditions, today the House passed an extension of unemployment benefits to bring relief to millions of families.

With the close of this week, we highlight the accomplishments of the 110th Congress – a New Direction Congress that enacted into law key legislation to rebuild our economy, strengthen our national security, care for our veterans, protect our planet, restore accountability, and provide needed support for America’s children and families.



Our work, however, is not finished, and we will continue to address the issues important to the American people.