WASHINGTON, Aug. 25 /PRNewswire-USNewswire/ -- Speaker Nancy Pelosi released the following statement today on a new report by the non-partisan Congressional Budget Office, which estimated that the Recovery Act has raised gross domestic product (GDP) by up to 4.5 percent, cut the unemployment rate by up to 1.8 percentage points, and created or saved up to 3.3 million American jobs:

"The new CBO report confirms other independent reviews that the tough decisions made by Democrats have started the difficult job of economic recovery.  Inaction –the course proposed by House Republican Leader John Boehner and his party – would have meant 3.3 million more unemployed, on top of the 8 million who lost their jobs due to the failed Bush economic policies supported by Republicans in Congress.  We will not go back to that 'exact same' failed agenda, as Mr. Boehner and Republican leaders have promised."

SOURCE Office of the Speaker of the House