Washington - Today, the federal government reported that the American economy actually lost 4,000 jobs in the month of August - the first monthly job loss in four years. The Bush Administration is accumulating the worst job creation record of any administration since the Great Depression.
U.S. Senator Robert Menendez (D-NJ), a member of the Senate Banking Committee, today said that the jobs news shows again how the Bush economy has been harmful to working and middle-class Americans.
"This news is indicative of an economy under which the benefits show up in the bottom lines of corporate America but not in the wallets of working America. Middle-class and working Americans have had to contend with a scarcity of jobs being created and stagnating incomes while they are working harder and producing more.
"Instead of pursuing tax cuts for the wealthiest Americans, the administration should be pursuing economic policy that benefits the middle class and working Americans. Congress has taken an important steps in that direction with the first raise in the minimum wage in 10 years, by moving toward a balance budget and with the greatest investment in college student aid since the GI bill. We must continue this course because the Bush economy isn't working for working Americans."
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