Democratic Leaders on Disappointing March Jobs Report & New Stimulus

Speaker Nancy Pelosi:

"Today's disturbing unemployment numbers, combined with Chairman Bernanke's recession warning, and threats to our standard living because of the rising costs of gas, groceries and health care compels the President to work with Congress on a second stimulus package to get our economy back on track, create jobs, and speed assistance to families struggling to make ends meet.

"When congressional leaders meet with the President next week, I will urge him to refocus his attention on America's economy and to again work in a bipartisan manner on a new stimulus package. We need to work together to restore consumer and market confidence, to assist millions of Americans threatened with the loss of their homes, and to help families meet the rising costs of necessities.

"Americans are demanding a New Direction for our economy that will create good paying jobs here at home and keep the American Dream alive for themselves and their families. Democrats in Congress are hopeful that the President and congressional Republicans will again work with us to strengthen the economy and the American middle class."

Majority Leader Steny Hoyer:

"There's no question that the economy President Bush will hand off to his successor in January will be worse than the economy he inherited. This President's economic program -- exemplified by today's very disappointing jobs report -- is just further evidence that his policies are failing Americans. Even more disconcerting is the fact that Senator John McCain, the Republican Presidential nominee, says he doesn't really understand the economy and simply promises more of the same.

"Democrats are focused on the issues that concern Americans. We are working to address the housing crisis, as well as other economic issues that this Administration has ignored for seven years. Under their watch, household income is down, gas prices have more than doubled, and foreclosure rates and the number of Americans receiving food stamps have both hit record highs. Throughout this year, Democrats will continue to examine responsible policy options to turn this economy around."

Education and Labor Chairman George Miller:

"Today's jobs report shows that additional steps are urgently needed to help get the U.S. economy back on track. First, we have to cure what ails us. The weakest spots in this jobs report are the construction and manufacturing industries, which are hemorrhaging jobs. We can help create construction jobs again by addressing some of the urgent problems with our nation's infrastructure. For example, thousands of public school facilities across the country are in serious need of modernization. Putting people to work in upgrading our schools, roads, bridges, and other critical infrastructure would not only address a key part of the economic challenge we're facing, it would allow us to satisfy a major national priority at the same time. And we can help create manufacturing jobs while also attacking global warming by putting people to work building an independent, clean energy economy for the 21st century.

"We also have to remember that today's numbers are not an abstraction. They mean that hundreds of thousands of American workers and their families are wondering how they will keep a roof over their heads and meet even the most basic of needs. Those workers desperately need extended unemployment benefits while they search for a new job. Congress has already approved an important economic stimulus package; the time for additional measures has clearly arrived, and we intend to act.

"Many economists, including Federal Reserve Chairman Bernanke, believe that things will get worse before they get better. We should prepare for the worst while we hope for the best. We should take decisive action now to blunt, as much as possible, the financial pain that too many Americans will likely face in the weeks and months to come."

Facts on the Bush Economy:

· The number of Americans jobs has declined in each of the past 3 months by a total of 232,000.

· The unemployment rate increased to 5.1 percent -- the highest level since Hurricane Katrina -- in March.

· On Wednesday, Federal Reserve Chairman said "A recession is possible... We're slightly growing at the moment, but we think that there's a chance that for the first half as a whole there might be a slight contraction."

· Gas prices have reached a record $3.29 a gallon -- 58 cents more than a year ago more than double in 2001--and recently oil prices hit an all-time record high of more than $110 per barrel.

· Since 2001, premiums for family health coverage have climbed 78 percent, with workers paying more than $3,200 per year. A record 47 million Americans are without health insurance.

· Since 2001, the real income of a typical family has fallen by nearly $1,000.

· Economic growth virtually stalled at the end of 2007 with consumer confidence at a 16-year low and consumer spending in February at the slowest in a year.