| A Note From Adam . . . |
Wherever I am in the Ninth District – meeting with a local
business, holding a town hall meeting, or going door-to-door
to listen to constituents – I hear people concerned about
our sluggish economy.
Although economists say that we are officially no longer
in a recession, the economy is growing at a very slow
rate, and job losses continue to mount. We hear that
we are in a "jobless recovery". As far as I’m concerned,
without jobs, there is no recovery.
I’m focusing my annual constituent survey on the economy
and jobs this year, because it is clearly an issue that
is impacting many people personally, and one of my top
priorities is to do all I can to help the economy get
back on track.
Your thoughts and opinions on the survey would be enormously
helpful. Hearing from the people of the Ninth District
is the most critical part of my job. Please take ten
minutes to read this survey and share your thoughts.
If you have any questions, don’t hesitate to call 1
(888) SMITH-09 for more information.
Thank you for your input!
Sincerely,
|
|
Economic growth has been slow since 2001 - averaging
2.5 percent. The most disturbing thing about this
sluggish growth is the continued job loss: our economy
has lost 3.3 million jobs in the last three years,
the worst performance on jobs since the Great Depression.
Most economists agree that the slowdown can be attributed
to several factors:
- The impact of the September 11 attacks, particularly
on the aviation and tourism industries;
- International instability due to terrorism, the
Middle East uprisings, and the Iraq war;
- “Excess capacity”: meaning that in the
late 1990’s, there was enormous investment
in certain infrastructure such as broadband and
wireless technology without the consumer demand
to support such infrastructures; and
- Uncertainty in corporations, following the Enron
and Worldcom scandals, and a reluctance to invest
in the stock market.
Other reasons that economists have suggested for the economic
slowdown include the rapid rise of the budget deficit and
national debt without a long-term plan to balance the budget;
the rise in health care costs which make it more difficult
for businesses to retain and hire new workers; increased global
competition, and decreased investment in research, education,
job training, and infrastructure.
One of my top priorities is ensuring that any "economic recovery"
includes the creation of good jobs. A jobless recovery isn't
good enough. We need well-paying jobs to ensure the health
of America's middle class and our economy.
|
