Pelosi: We Must Do Much More to Strengthen Our Economy and Help Struggling Families

Washington, D.C. – Speaker Nancy Pelosi today released the following statement in the wake of the new numbers showing anemic economic growth (0.6 percent) and the Federal Reserve Board’s decision to cut a key interest rate by a quarter percentage point:

“Today’s economic news and action by the Federal Reserve are further evidence that the economy is weak and that we must do much more to help families struggling with the rising prices of gas, groceries, college tuition, and health care.

“Congress led the way by approving $107 billion in Recovery Rebates that are arriving this week at 8 million households across America.  We are continuing to fuel economic recovery by finalizing legislation to help families avoid foreclosure or keep value in their homes and by sending the President this week a bill to help promote 40,000 good-paying American jobs in transportation and construction.

“We will soon send to the President legislation that protects student loans during this credit crunch.  And just yesterday, we joined with Iraq and Afghanistan veterans to endorse a new bipartisan GI Bill that will provide full college scholarships to returning service members and strengthen the middle class, just as we did following World War II.

“More still must be done, and I urge the Bush Administration to work with Democrats and Republicans in Congress to grow and strengthen our economy and alleviate the real economic hurt American families are enduring.”