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| Pelosi Statement on Dramatic Rise in Home Foreclosures and Jobless Claims |
Posted: 2008-11-17 22:16:52 |
WASHINGTON, DC -- Speaker Nancy Pelosi issued the following statement today on deteriorating economic news, including a steep rise in foreclosures and increased number of Americans filing for jobless claims:
"America's working families are facing worsening economic conditions. The number of homeowners receiving foreclosure notices increased 25 percent from a year ago and the number of newly laid-off Americans filing for jobless benefits is at a seven-year high. In these difficult times, the American people expect solutions from Congress and the Bush Administration.
"The need for action is clear and urgent, but the Administration is failing to move aggressively to stem the tide of foreclosures and refusing to use the authority it has been given by Congress to help homeowners. Addressing the underlying problem of home foreclosures and stopping the drop in home values is necessary to restore confidence in our financial system, get credit moving again, and boost economic growth.
"The House has already passed strong economic recovery and job creation legislation, which leading economists agree is critical. Now we need Republicans in the Senate and President Bush to join us in our efforts to boost the economy for all Americans."
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| Notes:
Source: Office of the Speaker of the House
CONTACT: Brendan Daly or Nadeam Elshami of the Office of the Speaker of
the House, +1-202-226-7616
About This Release
If you have any questions regarding information in this press release, please contact the organization listed in the press release. Issuers of press releases and not TCI are solely responsible for the accuracy of the content.
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