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Edwards Statement On President Bush's Remarks On The Economy


Location: Chapel Hill, NC

Edwards Statement On President Bush's Remarks On The Economy

John Edwards released the following statement today on President George Bush's remarks on the economy.

"Now that George Bush has finally joined the call for an economic stimulus package, the time for debate and delay is over. American families cannot wait any longer for swift and decisive action. After years of stagnant wages, the economy may be slipping into a recession and if we don't act now we may make our problems worse.

"The economic damage done by Bush and Cheney is deep and long-lasting, and the temporary tax cuts he proposes will not solve it alone. Making matters worse, his plan provides little or no help to some 50 million low-income and middle class families.

"To help middle class families get ahead over the long haul, we need to invest in a clean energy infrastructure that will create jobs now and pay economic dividends for decades to come. A helping hand to families facing foreclosure, states in the midst of budget crises, and long-term unemployed workers will cushion the blow to struggling families and prevent further economic damage. We must also guarantee universal and affordable health care and reverse the shift of the tax burden from the wealthy onto middle-class workers."

Since Edwards became the first presidential candidate to propose a specific stimulus package almost a month ago, there are more troubling signs about the economy. In December, the economy lost 14,000 private-sector jobs. The Dow Jones industrial average fell by more than 9 percent between January 1st and the close of markets yesterday. Some experts suggest that housing prices will fall by another 20 to 30 percent. Manufacturing activity is slowing and new housing starts are at their lowest level in 16 years.

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