Congressman Lee Terry issued the following statement today after learning nearly 12 million people claimed unemployment benefits for the week ending January 2, 2010, which is an increase of almost 4 million since the stimulus was signed into law.
"For months and months our economy has been struggling, people have lost their jobs, small businesses are cutting back and the average person is struggling to pay their bills," said Congressman Terry. "It is clear to me the stimulus plan hasn't worked and Congress must work in a bipartisan matter on meaningful legislation that creates jobs and creates incentives for businesses to grow and expand."
For more details on current unemployment benefit numbers please visit the United States Department of Labor website at: http://www.dol.gov/opa/media/press/eta/ui/current.htm
Congressman Terry also is gravely concerned about a Senate proposal to increase our national debt ceiling by $1.9 trillion, which would raise the Treasury's borrowing amount to more than $14 trillion.
"In Washington we keep spending and spending and eroding the value of our dollar," said Congressman Terry. "We cannot continue down this destructive and irresponsible path to spend now and pay later. We must look for immediate ways to get our national debt under control and get our economy back on track."
You can find current numbers of the U.S. National Debt here: http://www.usdebtclock.org/