Pelosi: Economic News Makes Clear President Must Drop Opposition to House-Passed Recovery Package

November 26, 2008

Washington, D.C. - Speaker Nancy Pelosi today issued the following statement in reaction to the latest economic news that 529,000 Americans filed for jobless claims last week, consumer spending declined by 1% in October and the number of Americans on food stamps could exceed 30 million for the first time.

"The latest economic news makes clear that President Bush and Senate Republicans must drop their opposition to the House-passed economic recovery legislation that would provide a down payment on creating jobs, helping states avoid deep cuts to health care and essential services, and deliver emergency nutrition assistance to struggling families. Democrats again call on President Bush and Senate Republicans to work with us to enact this legislation in December.

"Congress will continue to work with President-elect Obama on bold economic recovery and job creation legislation that will cut taxes, invest in a cleaner energy future, and rebuild schools, roads and bridges. The 111th Congress will act immediately on this legislation to restore consumer and market confidence and ensure America's global competitiveness."