WASHINGTON, DC – House Majority Leader Steny Hoyer (MD) released the following statement this morning after the Department of Labor reported that the U.S. economy lost 49,000 jobs in May:
“It is increasingly clear that the only people who believe the Bush Administration’s policies are working are the cheerleaders who reside and work at 1600 Pennsylvania Avenue. Today’s dismal jobs report is more bad news for American workers, who not only are struggling with the reality or fear of job loss but also with decreasing household incomes, exploding gas and food prices, and skyrocketing health care costs.
“While economists debate whether the economy is technically in recession, the one-half point jump in the unemployment rate in May to 5.5 percent and the loss of more than 300,000 jobs since the first of the year demonstrate that the Bush economy is wheezing to the finish line.
“The American people want and deserve economic policies that are designed to generate economic growth and create jobs, to ensure tax equity and fairness, to invest in our future, and to restore fiscal responsibility. These are precisely the goals put forward in Senator Barack Obama’s dynamic economic plan, and I look forward to working on his behalf in the campaign ahead. It must trouble all Americans that Senator John McCain, the presumptive Republican nominee, has flip-flopped and now promises to pursue the Bush Administration’s failed economic program. Our nation needs to move in the new direction that Senator Obama has outlined. The last thing we need is the third Bush term that Senator McCain promises.”