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10/30/2008
JEC to Hold Hearing on Faltering Economic Growth and the Need for Economic Stimulus
Washington, D.C. – U.S. Senator Charles E. Schumer and Representative Carolyn B. Maloney, Chairman and Vice Chair respectively of the Joint Economic Committee (JEC), will hold a hearing about the Bureau of Economic Analysis’s release of the Gross Domestic Product (GDP) numbers for the third quarter on Thursday, October 30, 2008 at 10:00 am in Room 106 of the Dirksen Senate Office Building. Preliminary data show that export growth has stalled while real consumer spending declined in July, and did not grow in August, and retail sales have fallen sharply over the past few months. These data indicate that the third quarter GDP will likely will show faltering overall economic performance.
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10/30/2008
Sen. Schumer Reacts to Third Quarter GDP Numbers
“Today’s GDP numbers are further evidence that our economy is going in the wrong direction, and provides a sad epitaph for this Administration's failed economic policies. There can no longer be any debate that we are in a recession, and that we need to create a targeted stimulus program to prime our economic pump, and help American families as they weather this storm.” – Sen. Schumer
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10/29/2008
STEMMING THE CURRENT ECONOMIC DOWNTURN WILL REQUIRE MORE STIMULUS
Washington, D.C. – Senator Charles E. Schumer, Chairman of the Joint Economic Committee (JEC), and Rep. Carolyn B. Maloney, JEC Vice Chair, released a new JEC report entitled “Stemming the Current Economic Downturn Will Require More Stimulus.” The current economic downturn follows the weakest recovery on record. Families face rising unemployment, high prices, dwindling assets, historically high debt, and their real income remains lower than it was over eight years ago, all of which makes prospects for a consumer-led recovery highly unlikely. The weakness of household finances means that absent aggressive government action, the current downturn could be particularly long-lasting and severe.
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10/03/2008
From Wall Street to Main Street: Understanding How the Credit Crisis Affects You
The Joint Economic Committee produced the report, “From Wall Street to Main Street: Understanding How the Credit Crisis Affects You,” to use as an informational tool. It provides a common sense explanation of the current credit crisis and how it affects hard working Americans.
Joint Economic Committee
