CBC applauds passage of stimulus package
Hazel Trice Edney/NNPA Editor-in-Chief
Issue date: 2/22/09 Section: Cover
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"This package will help businesses create jobs and families afford their bills while laying a foundation for future economic growth in key areas like health care, clean energy, education and a 21st century infrastructure," says U. S. Rep. Barbara Lee (D-Calif.) chair of the Congressional Black Caucus.
The extensive bill passed the Senate Friday night 60-38 only hours after passing the House 246-183 with clear party lines.
Though Obama appeared to try hard to win a bi-partisan agreement, the result is clearly a defeat for past Republican policies.
"The disastrous economic policies of the previous administration - including irresponsible tax cuts for the wealthy and the war in Iraq and deregulation of the financial industry have left our nation in shambles," Lee says in a statement. "Millions of people are living in poverty, without health insurance, and unemployment is through the roof. Our communities of color have been especially hard hit - and it's only getting worse," she said, calling the bill "a positive step in the right direction for our country."
The President was expected to sign the bill in Denver on Tuesday.
House Majority Whip Jim Clyburn describes the new plan as "bold action that President Obama called for. It will create and save 3.5 million jobs, cut taxes for 95 percent of American workers, and strategically transform our economy for years to come."
But, the mission is daunting, he concedes. "Our economy is shedding 20,000 jobs a day. Just last month nearly 600,000 jobs were slashed, marking the deepest cut in payrolls in 34 years. The unemployment rate in January reached 7.6 percent, the highest level in more than 16 years. Of the top 20 highest months of job loss in America's history, five occurred in the last seven months. It's time to turn those statistics around," Clyburn said in a statement.
Among the primary focuses of Black legislators has been the Black unemployment rate, which is 12.9 percent and more than 14 percent for Black males.
Though Lee applauds the bill, she still questions whether it will be enough when President Obama has predicted possible double-digit unemployment for all of America before it's all over.
"Given the magnitude of the economic crisis, this bill could and should be much bigger - at least $1 trillion," Lee said. "Additionally, it should have been enacted a year ago when my colleagues in the Progressive Caucus and I first called for a new stimulus package to jumpstart our economy. But the previous Administration refused to take action, letting our economy collapse before choosing to bailout their friends in the banking industry."
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