Katie Grant, 202-225-3130
WASHINGTON, DC - Democratic Whip Steny H. Hoyer (MD) released the following statement regarding February's employment numbers that will be reported by the Department of Labor tomorrow:
“Tomorrow, the Department of Labor will release its report on February’s employment numbers. And while we don’t yet know the results, one thing is certain: if the news is good, Republicans will try to take credit for it. It’s just as certain that they will have no basis in fact for doing so. As this Congress approaches the two-month mark, Republicans have yet to offer a single piece of job-creating legislation.
“In fact, the reckless cuts to investments that have passed the House would have exactly the opposite effect: economists across the spectrum agree that Republicans’ spending plan will cost jobs. The Economic Policy Institute concluded that Republicans’ plan will destroy a total of 800,000 jobs. Moody’s Analytics chief economist Mark Zandi, who advised Sen. McCain’s 2008 campaign, estimates the damage at 700,000 jobs. And just yesterday, Federal Reserve Chairman Ben Bernanke testified that he believes the Republican spending plan will cost ‘a couple hundred thousand jobs.’
“Democrats agree that we need to get our budget under control by cutting spending in a smart, targeted way. We’re ready to cut and compromise with Republicans. In fact, we’ve met them nearly halfway: Republicans have asked for $100 billion in cuts, and $45 billion has been cut so far. But Republicans still remain fixated on an ideological plan that will put hundreds of thousands of Americans out of work. I don’t see how they can honestly support that plan, and claim credit for any job growth, at the same time."