Statements Archive
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Chad Stone, Chief Economist, on November Employment Report
December 5, 2008
Today’s devastating jobs report confirms that the economy is in a serious recession. Good policy in the months ahead is vital to limit the damage, but even so this recession is likely to be the longest, and possibly one of the deepest, since World War II. Today’s report also … -
Statement by Stacy Dean, Director of Food Assistance Policy, on the New USDA Report on Hunger
November 17, 2008
Even before the current economic downturn, some 13 million households, containing 36.2 million people, lacked access to adequate food at some point in 2007 because they didn’t have enough money for groceries, according to the USDA report on hunger.
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Statement by Chad Stone, Chief Economist, on the October Employment Report
November 7, 2008
The weakness in the economy showed up with a vengeance in today’s employment report. As unemployment continues to rise, the percentage of Americans with a job is at its lowest level since 1993 and more than one in five of the unemployed has been looking for work for at least 27 weeks. … -
Statement by Chad Stone, Chief Economist, on the September Employment Report
October 3, 2008
Today’s employment report is a reminder that the economy’s troubles run deeper than the financial market distress that is monopolizing the headlines. Enacting the financial rescue plan before the House today is vital to reduce the risk of financial meltdown and an ensuing economic contraction more severe than any since the 1930s. But … -
Statement on Senate-Passed Financial Rescue Legislation by Robert Greenstein and Chad Stone
October 2, 2008
The House should quickly approve the financial rescue plan that the Senate approved in strong bipartisan fashion yesterday. Further delay would leave the U.S. economy increasingly vulnerable to a contraction more severe than any since the 1930s — one that could trigger large increases … -
Statement by Chad Stone, Chief Economist, on the August Employment Report
September 5, 2008
Today’s extremely disappointing employment report shows that the economy remains mired in a slump and still waiting for something to jump start a sustainable recovery. Consumer spending supported by the stimulus payments that Congress enacted earlier this year helped keep the economy growing … -
Robert Greenstein on Census' 2007 Income, Poverty, and Health Insurance Data
August 26, 2008
Despite modest improvements in overall median income and health insurance coverage, the new Census data are disquieting. Though 2007 was the sixth (and likely the final) year of an economic expansion, 4.4 million more Americans were poor, the median income of non-elderly households was $1,100 lower, and nearly 6 million more Americans were uninsured than in 2001 — … -
Statement by Chad Stone, Chief Economist, on the July Employment Report
August 1, 2008
Today’s disappointing employment report lends greater urgency to lawmakers’ efforts to craft a second round of effective economic stimulus legislation that Congress can enact quickly when it returns in September. Consumer spending supported by the stimulus payments that Congress … -
Statement by Edwin Park, Senior Fellow, on the President's Veto of the Medicare "Doctor Fix" Bill
July 15, 2008
Contrary to the President’s claim today, the Medicare bill would not “harm beneficiaries by taking private health plan options away from them.” It would merely slow the explosive growth in private fee-for-service plans, the most overpaid and least efficient private Medicare plans. Under the bill, overall enrollment in Medicare … -
Statement by Chad Stone, Chief Economist, on the May Employment Report
June 6, 2008
Today’s disappointing employment report should lead the White House to reconsider its opposition to extending unemployment insurance benefits for workers who have been unable find a new job. A temporary extended benefits program for workers who exhaust their regular unemployment insurance … -
Statement by Robert Greenstein, on Misleading Claims That Congressional Budget Plan Calls For "Largest Tax Increase In History"
May 20, 2008
Some claim that the budget plan of the conferees — which the House and Senate are scheduled to consider this week — would constitute “the largest tax increase in history.” This claim is inaccurate, just as the same claim was inaccurate with regard to the budget … -
Statement by Robert Greenstein on the House Supplemental Funding Bill
May 15, 2008
The House supplemental funding bill makes important changes to domestic policy by temporarily extending unemployment benefits and imposing a moratorium on harmful Medicaid regulations. The unemployment measure would provide, on a temporary basis, an extra 13 weeks of jobless benefits to workers … -
Statement by Barbara Sard, Director of Housing Policy, on House Action on Foreclosure Legislation
May 7, 2008
Two essential elements of an effective federal response to the foreclosure crisis are stabilizing communities hard hit by foreclosures and helping renters who lose their homes to foreclosure through no fault of their own. The Neighborhood Stabilization Act (H.R. 5818), which the House plans to … -
Statement by Chad Stone, Chief Economist, on the April Employment Report
May 2, 2008
Today’s employment report provides no comfort to those who want to work but can’t find a job, especially those who have exhausted their regular unemployment insurance benefits or soon will. Congress should quickly enact temporary extended unemployment benefits both to support the … -
Statement by Chad Stone, Chief Economist, on the March Employment Report
April 4, 2008
Today’s disappointing employment report makes one thing clear: Congress should quickly enact temporary extended unemployment insurance benefits, both to support the slumping economy and to provide needed assistance to workers who have been looking for work for more than half a year and have … -
Statement by Iris Lav, Deputy Director, on Provision in Bipartisan Senate Housing Package Affecting Local Property Taxes
April 3, 2008
While the Senate housing package would establish a new property tax deduction for non-itemizers, a little-noticed provision of the bill would deny the new deduction to any resident of a locality that raises its property tax rate between April 2 and next January 1. By preventing localities from … -
Statement By Robert Greenstein Executive Director On The New Reports From The Social Security And Medicare Trustees
March 25, 2008
Today’s reports demonstrate again that policymakers will need to take action to shore up Social Security and Medicare finances, with the challenge being more modest in Social Security and more daunting in Medicare. Social Security The reports show that Social Security will be able to pay full benefits until 2041 and to pay 75 … -
Statement by Chad Stone, Chief Economist, on the February Employment Report
March 7, 2008
Today’s employment report adds to the mounting evidence that the economy is too weak to avoid more unemployment and shrinking job opportunities in the months ahead. Rather than wait too long, as it has in similar situations in the past, Congress should quickly enact temporary extended … -
Statement by Chad Stone, Chief Economist, on the January Employment Report
February 1, 2008
Today’s employment report provides fresh evidence both that the economy is slowing and that Congress should include a temporary extension of unemployment insurance benefits in its fiscal stimulus package. The percentage of the unemployed who have been looking for a job for more than half … -
Statement by Robert Greenstein: Reported Stimulus Package Would Provide Little Immediate Boost Due to Removal of Most Effective Provisions
January 24, 2008
Changes reportedly made last night in the stimulus package would reduce its effectiveness as stimulus. Although the package includes a reasonably designed tax rebate, the two most targeted and economically effective measures under consideration — a temporary extension of unemployment benefits and a temporary boost in food stamp … -
Statement By Robert Greenstein Executive Director In Response to Administartion Comments on Economic Stimulus
January 18, 2008
In outlining its principles for economic stimulus today, the Administration helpfully called for measures that would be temporary and would take effect right away. At the same time, however, the Administration also included several principles that would substantially reduce the effectiveness of a stimulus package. First, … -
Administration Stimulus Plan Fails Tests for Achieving
January 17, 2008
The centerpiece of the President’s new stimulus plan — a rebate provided by temporarily eliminating the 10 percent income tax bracket — fails crucial tests for providing the most effective stimulus, because it is not targeted on the tens of millions of families most likely to spend that rebate. In so doing, … -
Statement by Chad Stone, Chief Economist, on the December Unemployment Report
January 4, 2008
Today’s report shows that the economy is entering 2008 with a weakening labor market. Employers expanded their payrolls by a meager 18,000 jobs in December, private payrolls actually shrank by 13,000 jobs, and the unemployment rate rose from 4.7 to 5.0 percent. These data are very …
