In his State of the Union Address this week, President Obama spoke about the reality of the hard times facing our country, as well as the determination and optimism that have helped America overcome hardship in the past--the same qualities that are essential to our recovery today.
Since President Obama took office in the midst of an economic crisis, America has seen significant progress, much of it due to the passage of the job-creating Recovery Act. The recovery program is credited for creating up to 2.4 million jobs, and stimulating economic growth – 5.7% for the last quarter of 2009 – the highest rate of growth in six years.
But while indicators suggest we are moving in the right direction, far more work remains to restore the promise this nation has to offer. President Obama understands that, which is why job creation and strengthening the middle class were front-and-center in his address, and why the Congress will be passing a jobs package in the coming weeks.
At the same time, tackling our long-term deficit has a place at the top of our agenda. The President urged the passage of a pay-as-you-go law, to ensure that America pays for what it buys. I have worked hard to advance this legislation through Congress, and am pleased to report that the House will take a final vote on it next week to send to the President’s desk.
Finally, the president reminded us that, even in hard times, we cannot neglect policies that strengthen our future prosperity and national security. One of those is health insurance reform, which can reduce costs for families, provide more freedom to workers, and create some 4 million jobs over the next decade; for those reasons, the president reasserted his strong support for reform.
It is also essential to pass Wall Street reform that will bring accountability to our financial sector and put an end to the reckless gambles that endanger the future of millions of average Americans. Setting high standards for education and creating jobs with clean energy are also crucial to a recovery that is sustained and widely shared. And the president also pledged continued vigilance against terrorism at home and abroad.
President Obama laid out an ambitious agenda that meets the needs of America’s struggling middle class in this time of recovery. I look forward to working with him and my colleagues in Congress—on, I hope, both sides of the aisle—to make this middle-class agenda a reality.
As always, thank you for allowing me to share this update with you. If there is anything you wish to share with me or bring to my attention, please do not hesitate to contact my office.
With warmest regards, I am
Steny H. Hoyer
Hoyer: GDP Report Is Encouraging Sign of Economic Recovery Congressman Steny H. Hoyer released the following statement on today's GDP report indicating that America's economy grew by 5.7% in the last quarter of 2009:Read news release
Hoyer Fiscal Responsibility Measure Passes Senate; House to Vote Next Week A fiscal responsibility measure long championed by Congressman Hoyer passed the Senate this week and will be up for a vote in the House next week. The measure, known as Pay-As-You-GO or PAYGO, was a key budget tool that helped turn deficits into record surpluses during the 1990s, but lapsed under the previous Administration.
Hoyer Delivers Speech on 2010 Agenda at National Press Club
Congressman Steny Hoyer, the House Majority Leader, outlined the 2010 Congressional agenda in a speech at the National Press Club. In his speech, he walked through continuing efforts to create jobs and grow the economy, and he laid out a strategy for reducing the deficit, including approving a strong pay-as-you-go law that will require government to exercise fiscal constraint.