Media

Speaker Pelosi and Chairman Barney Frank of the House Financial Services Committee held a press availability in the Capitol late this afternoon on the aid package to the auto industry. The Speaker's opening remarks:

Good afternoon, thank you for joining us. We are, as you know, in conversations about how we go forward with the package for the auto industry that produces, at the end of the day, and that means very soon, a viable plan for our country.

It is an interest that is important to our economy, to our industrial base, the workforce concerns that are important to our country. We want to be able to review the performance of the auto companies as we go forward. In order to do that, it is important for us to pass legislation that will set criteria for restructuring and reorganization of that industry and the companies within it.

Majority Leader Hoyer's office released a report today on the legacy of deficits and debt by President Bush and Republicans saying:

Over the last eight years, President Bush and Republicans have built a record of failed fiscal policies that are contributing to the devastating economic crisis facing our nation and will make the road to economic recovery a slow and difficult process. In addition, President Bush's budgets have repeatedly cut funding for the programs that help Americans cope during an economic downturn while providing massive tax relief to big business and wealthy Americans.

The report shows key statistics contrasting the state of the economy when President Bush took office to now:

"Faced with staggering new unemployment figures, Democratic Congressional leaders said on Friday that they were ready to provide a short-term rescue plan for American automakers, and that they expected to hold a vote on the legislation in a special session next week."

Majority Leader Hoyer released the legislative schedule for calendar year 2009 today:

The 111th Congress is set to convene at a challenging time in our nation's history. The American people voted decisively for change this November, and we will work hard to make that change a reality. This House Majority will continue addressing the priorities of the American people as we further our record of governing effectively and getting results.

Building on the strong record of accomplishments from the 110th Congress and bolstered by a new Administration, the House vote schedule for 2009 will help us confront the challenges that face our country, while allowing adequate time for Members to meet with their constituents and conduct important business in their districts.

On November 21st, Speaker Pelosi and Leader Reid sent a letter to the Big Three U.S. auto executives calling on them to “submit a credible restructuring plan that results in a viable industry, with quality jobs, and economic opportunity for the 21st century while protecting taxpayer investments." Today, the House Financial Services Committee is holding a hearing to review the auto industry plans submitted to Congress earlier this week.

Read the plans:

Auto Industry Stabilization Plan: Chrysler Submission

Today, the Labor Department released statistics showing that 533,000 jobs were lost in November--the largest one-month loss in 34 years. The unemployment rate increased to 6.7 percent and America has lost nearly 2 million jobs this year alone.

Speaker Pelosi: