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Congressman Sherman Reacts to President Obama's Economic Plan


Location: Washington, DC

Following President Obama's September 8th speech, Congressman Brad Sherman released the following statement:

"The President's economic plan is good but insufficient. We need a bolder spending program over the next 2 years to get us out of this recession, but if and only if it is paired with an even bolder program to reduce the deficit over the next 10 years. I'm pleased that the President supports tax breaks for the middle class, including the payroll tax holiday which provides immediate additional stimulus and is self-reversing.

I'm disappointed that among the measures that congress should enact the president mentioned free trade agreements; this will have the exact opposite effect and ensure the loss of thousands of American jobs. I would also like to see the administration take a more active role in keeping housing prices from declining any further. Along with any jobs recovery act, we should have a housing act."

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