WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) released the following statement today after House Democrats met this morning with leading economists:
“Today we had the opportunity to hear from leading economists about their thoughts on our nation’s economy. They reaffirmed that the economic recovery legislation enacted into law a few weeks ago was an important and necessary action to stem the economic downturn. They also cautioned that it will take time before the effects of the recovery package are fully felt, and that it is premature to announce a verdict on the impact of the package and whether other actions may be needed.
“We also discussed the need to address all elements of the financial crisis. The Obama Administration has laid out additional steps to address the problems in the financial markets and the housing sector. The Administration has already acted more quickly in the past few weeks than other countries have in years, and I look forward to continuing to work with them in the weeks and months ahead as we turn our nation’s economy around.”