Pelosi: Fed's Rate Cut More Proof That Bush Economic Plan Has Increased Economic Insecurity for Middle Class

'The Federal Reserve's rate cut is more proof that the Bush Administration economic plan has increased economic insecurity for America's middle-class families.

'The New Direction Congress has already responded with a middle-class agenda that makes our economy fairer by cutting taxes for working families, invests in job creation through innovation, rewards work by increasing the minimum wage, and helps families afford a college education.  But our job is far from over, as Americans continue to feel the pain of rising energy prices, soaring health care costs, and the fear of possibly losing their homes.

'Protecting Americans from foreclosure and restoring America's economic strength demands bold action that goes far beyond President Bush's limited response. The New Direction Congress acted swiftly to protect families from foreclosure, strengthen the housing market, and expand consumer protection against risky loans.

'Democrats will send the President an AMT bill that cuts taxes for middle-class families and we are committed to enacting an historic energy bill that will lower energy costs, create jobs, and reduce our dependence on foreign oil.

'It is past time the President opened his eyes to the kitchen table issues that everyday Americans are facing and join with Congress in acting on a New Direction for our economy.'