Katie Grant, 202-225-3130
WASHINGTON, DC – Democratic Whip Steny H. Hoyer (MD) released the following statement today after the Department of Labor released their jobs report for February:
“Today’s news on job creation is encouraging: our country added 192,000 jobs last month. Our unemployment rate is now 8.9%—and in recent months, the unemployment rate has declined at the fastest pace in almost 28 years. While these numbers are signs of an economy regaining its health, they also remind us that millions of Americans are still out of work and that more needs to be done.
“While Democrats continue to pursue the Make It In America agenda to create middle-class jobs and help more families make it in our country, Republicans have yet to offer a single bill to create jobs. Instead, they are pursuing reckless spending proposals that would harm the economy and put people out of work. The Economic Policy Institute found that Republicans’ plan will destroy a total of 800,000 jobs. Moody’s Analytics chief economist Mark Zandi, an advisor to Sen. McCain’s 2008 campaign, concluded that as many as 700,000 jobs could be lost. And this week, Federal Reserve Chairman Ben Bernanke told Congress of his estimate that the Republican spending plan will cost ‘a couple hundred thousand jobs.’ Democrats, by contrast, believe that we can get our budget under control, while preserving our economy's strength, with smart, targeted cuts.
“Democrats are ready to cut and compromise--in fact, we've more than met Republicans' proposals halfway. We can meet our budget challenges and keep our economy growing if both parties prove willing to compromise, but Republicans' reckless plan would end vital investments in economic growth and severely harm America's competitiveness. Only by putting aside ideology can we work together to keep this positive momentum going.”