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Our Economy is Doing Great

Date: Feb. 28, 2006
Location: Washington, DC
Issues: Economy and Fiscal


OUR ECONOMY IS DOING GREAT -- (House of Representatives - February 28, 2006)

(Ms. FOXX asked and was given permission to address the House for 1 minute.)

Ms. FOXX. Mr. Speaker, our economy is doing great. But Americans will not find that out from the Main Street media. New York Times, January 2006: the U.S. economy slowed sharply at the end of 2005.

Atlanta Journal Constitution, January 2006: economic growth slows to a snail's pace.

The New York Times again, January 2006: pockets of concern slow a strong U.S. economy.

But what the facts show, the U.S. economy grew 3.1 percent during 2005. The unemployment rate is 4.7 percent, the lowest since July 2001.

The Congressional Budget Office projects economic growth at 3.6 percent in 2006. Personal incomes grew above inflation last year in 49 out of 50 States. Two million jobs were created last year, and more Americans are working than ever before. Average weekly earnings grew faster in 2005 than the average growth during the Clinton years.

Do not believe the headlines. Our economy is the envy of the industrialized world, and we are doing great.

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