Friday, January 9, 2009

More Bad News on Economic Front, Time to Curb Spending

In yet another sign of economic turmoil, today the Labor Department announced the unemployment rate has skyrocketed to its highest level in close to two decades.

The nation's unemployment rate now stands at 7.2% and last month alone, employers laid off 524,000 workers. According to an economist quoted in today's Boston Globe, there doesn't appear to be any relief in sight in terms of layoffs.

While we in the Massachusetts House of Representatives cannot control the nation's unemployment rate, we do have an effect on the state's economy. Over the next several weeks, we will be debating a number of issues including the status of the state's finances and its struggling transportation system.

We have always and will continue to encourage our colleagues across the aisle to rein in the out of control spending, put an end to proposing new programs until the state's economy rebounds and discourage any new taxes.