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Consumer Confidence

Date: Oct. 7, 2005
Location: Washington, DC
Issues: Economy and Fiscal


CONSUMER CONFIDENCE -- (House of Representatives - October 07, 2005)

(Mrs. MALONEY asked and was given permission to address the House for 1 minute and to revise and extend her remarks.)

Mrs. MALONEY. Mr. Speaker, last week we saw new evidence that Americans are becoming increasingly pessimistic about this economy. Two separate measures of consumer attitudes plunged drastically, posting their largest declines in decades.

The impact of the hurricanes was the immediate cause of pessimism, but Americans have never had much confidence in the Bush economy. The President has the worst job creation record since Herbert Hoover. American workers have been left behind in the economic recovery from the 2001 recession.

For the typical worker and household, wages and incomes are not keeping up with the cost of living. The gap between the haves and the have-nots continues to grow and I find that tremendously troubling for our country. This record does not inspire confidence in our economy. We can do better.

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