Progressive Leader Barbara Lee Says "Get the Economy Back on Track"

Press Release

Progressive Leader Barbara Lee Says "Get the Economy Back on Track"

Congressional Progressive Caucus (CPC) Co-chairs Barbara Lee (CA-9) and Lynn Woolsey, Chairman of the House Committee on Financial Services Barney Frank (D-MA), Co-director of the Campaign for America's Future Robert Borosage and Robert Kuttner, author of The Squandering of America and co-founder of the American Prospect today explored progressive solutions to get the economy back on track.

"Progressives have an opportunity to provide viable and practical solutions to stimulate our economy and we intend to be at the forefront of this important national priority," said CPC Co-chair Barbara Lee. "We need to be aggressive and get the economy back on track to ensure a better quality of life for America's families and children."

Amidst the ongoing mortgage crisis, there are increasing signs that the U.S. economy is experiencing a significant down turn. Oil prices have topped the $100-a-barrel mark recently. The manufacturing sector contracted in December and payrolls grew less than expected, while the unemployment rate hit a two-year high of 5%. In response, the Dow Jones Industrial average lost 3.5% in the first three days of trading in 2008, while the Standard and Poor's 500 index fell 3.86%, and the NASDAQ composite index dropped 5.57%.

Congresswoman Lee and progressive leaders hosted the Capitol Hill Town Hall to focus on the economy and the Progressive Promise legislative agenda. With a strong base of 72 members, the CPC provides a comprehensive, viable, alternative called the Progressive Promise: Fairness for All. Established in the early 1990s, CPC reflects the diversity and strength of the American people, and seeks to give voice to the needs and aspirations of all Americans.

Source