Pelosi Statement on Analysis of American Recovery and Reinvestment Plan by Mark Zandi of Economy.com

Washington, D.C. - Speaker Nancy Pelosi released the following statement in reaction to an independent analysis by one of the nation's leading economists, Mark Zandi of Moody's Economy.com, demonstrating the need for Congress to act quickly on the American Recovery and Reinvestment Plan.  Zandi's report indicates that the plan would create and save nearly 4 million more jobs and that the unemployment rate will be 2.2 percent lower if the legislation is enacted than if it is not.

"Mark Zandi's analysis of the plan as a whole clearly demonstrates the need for the American Recovery and Reinvestment Plan.  With 2.7 million jobs lost last year alone, and millions of workers worried about losing their employment, their homes and their savings, the time is now to act on legislation that Mr. Zandi estimates will create and save nearly 4 million American jobs by the end of 2010.

"Congress and President Obama have been working hand-in-hand on an economic recovery package that will create jobs, invest in rebuilding America for a 21st century economy, help secure our energy future, provide tax relief to the middle class and small businesses, and help working families with health care, education, and other critical services.  We are committed to completing legislation by Presidents' Day so that our new President can sign this much needed, job-creating legislation into law."