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Washington, DC - House Financial Service Committee Chairman Barney Frank, released the following statement on today’s job numbers:
“Today’s report on the April job numbers confirm that the economy remains in deep trouble. We must act aggressively both to address the growing foreclosure crisis that is at the root of this recession, and to provide further stimulus to the broader economy. While some are relieved that the report was not worse, there is no relief for hard pressed families. Almost 300,000 Americans have lost their jobs since the first of the year and over 5 million others are working part time because they have been unable to find full time work.
“Yesterday, the Financial Services Committee completed work on a major foreclosure prevention bill that will be considered by the full House next week. Fast Senate action and a Presidential signature are vital.
“We should also act quickly to enact a second stimulus package that includes aid to cities and states that have been collateral victims of the foreclosure crisis, seeing tax revenues decline as millions of vacant homes line our streets. American families need our help as well, and the package must include an extension of unemployment benefits and increases in safety net programs.”
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