Earlier this year, Rep. Lois Capps (D-Santa Barbara) released a statement saying "our economy is steadily recovering and continuing to move in the right direction..." In the past week, two of the most prominent Democrats in Washington, Vice President Joe Biden and California Congressman Henry Waxman (D-Beverly Hills) have characterized the economy as being in a "depression."
"Does Lois Capps agree with Vice President Biden and Henry Waxman on the condition of our economy," asked Former CA Lt. Governor and 24th Congressional District candidate Abel Maldonado (R-Santa Maria). "We need to have an honest conversation about the economy and that has to start with the recognition that the economy isn't 'steadily recovering' as Capps has suggested. For the first time in three years, manufacturing shrank in America and employers are still not hiring, businesses aren't expanding and millions of Americans are still out of work."
In an interview on C-SPAN's Newsmakers program, California Democrat Henry Waxman said, "The economy has not recovered. Some people call it a recession, I think it's a depression." Just last week, Vice President Biden said, "It's a depression for millions and millions of Americans."
Maldonado added, "We cannot get this economy moving forward if our own representatives in Washington refuse to acknowledge what everyone else living in this economy already knows - that it's not 'moving in the right direction' as Lois Capps would have you believe, it's moving towards a depression."