Larsen: Bleak Economic Outlook Underscores Need for Immediate Action to Create Jobs and Spur Growth
For Immediate Release
Contact: Amanda Mahnke
(202) 225-2605
January 27, 2009
Washington, D.C. — U.S. Representative Rick Larsen (WA-02) released the following statement following a House Budget Committee hearing on the economic outlook and budget challenges ahead. Larsen and other Committee members heard from Doug Elmendorf, the new director of the Congressional Budget Office (CBO) and leading economists.
“Yesterday a number of major American businesses announced they will be cutting more than 55,000 jobs across the country in the coming days. Today the House Budget Committee heard testimony from the Congressional Budget Office that our country is heading for the longest recession since World War II and possibly the deepest as well.
“Action is needed now for economic recovery and job growth.
“CBO Director Elmendorf testified that the American Recovery and Reinvestment Act – up for a House vote tomorrow -- will “provide a substantial boost to economic activity over the next several years” and create millions of jobs across the country.
“The American Recovery and Reinvestment Act will put people to work modernizing our roads, bridges and transit and investing in clean, efficient energy. It will invest in school modernization and repair to help more children learn in 21st century classrooms, provide tax cuts for 95 percent of working Americans and deliver help for Americans hurt the most.
“This legislation alone won’t end the recession. Our country has worse economic times ahead. But today’s testimony made it clear that an economic recovery package is needed now to shorten the recession, lessen its impact on the American economy and workforce and put us on the road to recovery as soon as possible.”
As a new member of the House Budget Committee for the 111th Congress, Larsen will have the opportunity to help shape our nation’s fiscal priorities during difficult economic times and help set the priorities for Congress’ annual appropriations process. Larsen will maintain his permanent seats on the House Armed Services Committee (HASC) and the House Transportation and Infrastructure Committee (T&I) for the 111th Congress.
###
