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February 11, 2008
Reid: President's Economic Report Fails To Acknowledge Challenges Facing Middle Class
Washington, DC—Senate Majority Leader Harry Reid made the following statement today in response to President Bush’s economic report released today:
“I am pleased that Democrats and Republicans have worked together to reach agreement on a short-term economic stimulus bill. Economists believe that this legislation will make a real difference in mitigating our current downturn. However, it is far from a panacea, and much more should be done to address our economy’s longer-term problems.
“The President’s report today argues that the economy retains a solid foundation, but it fails to adequately reflect pressures on middle-class families that have been mounting for many years. The middle class is facing declining incomes, coupled with rising prices for everything from health care to gasoline to college tuition. It now takes two incomes for most families to make ends meet, and many are just a lost paycheck away from financial disaster.
“It is long past time for Washington to make it a priority to strengthen the middle class. President Bush seems unable to understand this, but our next President must.”
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The Senate will convene at 9:30 a.m. and proceed to a period of morning business until 11:00 a.m., with the time equally divided and controlled between the two Leaders or their designees.
At 11:00 a.m., the Senate will resume consideration of the House Message with respect to H.R.1586 [Legislative vehicle for the Education Jobs Fund and FMAP] with 20 minutes for debate equally divided and controlled between Senators Baucus and DeMint, or their designees.
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