Pelosi: July Job Report Shows Bush Economy Heading in Wrong Direction

Pelosi: July Job Report Shows Bush Economy Heading in Wrong Direction

House Democratic Leader Nancy Pelosi issued the following statement today on the tepid jobs report released today that showed only 113,000 new jobs were created in July and the unemployment rate is up to 4.8 percent, while real wages have remained stagnant over the last three years:

"As bad economic news for middle-income families living paycheck to paycheck adds up, Republicans continue to play politics with the economic well-being of millions of families.

"Gas prices and health care costs are doubling, oil prices remain at a record level, and real family income has stalled. In response, Republicans proposed tying a pay raise for hard-working Americans to tax breaks for the privileged few that will drive up the already record national debt. Last night, Senate Democrats stopped the Republicans' cynical ploy that ties an increase in the minimum wage for 7 million Americans to cuts in the estate tax for the 7,500 wealthiest families in America, while adding $800 billion to the deficit.

"It is immoral that millions of workers earning the minimum wage have not gotten a raise in nine years. Before Congress adjourns for the year, we must have a vote in Congress to raise the minimum wage to $7.25 an hour. But that means a clean bill - a straight up or down vote on increasing the minimum wage.

"Democrats have a New Direction for America, one that brings economic opportunity and security to all Americans by rewarding hard work and raising the minimum wage."

http://democraticleader.house.gov/press/releases.cfm?pressReleaseID=1733