WASHINGTON, Dec. 3, 2010 /PRNewswire-USNewswire/ -- Speaker Nancy Pelosi released the following statement today after the Department of Labor issued its November jobs report. In the 111th Congress, Democrats have fought for legislation to create good-paying American jobs and strengthen the economy.
"Today's jobs report is a clear sign that there is more work to do to create jobs, strengthen our middle class, and revitalize our economy.
"The best way to inject demand into our economy right now is to put money in the pockets of those that need it most and will spend it fastest – America's middle class – and Republicans should join us immediately in that effort. That means keeping in place unemployment insurance for Americans who lost their jobs through no fault of their own, which non-partisan studies have shown return two dollars in economic benefits for every dollar invested. Republicans in the House and Senate must stop holding middle-class tax cuts hostage to a tax giveaway to millionaires and billionaires that adds $700 billion to the deficit while doing little to stimulate economic growth and create jobs.
"Democrats have passed bills to create jobs, give the middle class the tools to keep the economy moving, and give employers the support to hire, grow, and thrive; unfortunately they were opposed by Senate Republicans. We are ready to work together on behalf of solutions that work for the American people, and we call on Republican leaders to offer serious proposals that create jobs and grow our economy."
Austan Goolsbee, Chairman of the President's Council of Economic Advisers:
"Extending this support to those hardest hit by this crisis is not only the right thing to do, it's the right economic policy…Letting millions more Americans fall into hardship will hurt our economy at this critical point in our recovery and immediately undermine consumer spending." [White House, 12/2/10]
Alan Blinder, Princeton Professor and Former Vice Chairman of the Fed:
"Extending unemployment benefits is one of the best forms of stimulus we know." [NPR, 7/2/10]
Yesterday, the White House's Council of Economic Advisers issued a report on the economic impact of extending unemployment benefits.
SOURCE Office of the Speaker of the House