Engel on theEconomy: Don't ForgetState, Local Needs

WASHINGTON, DC -- Congressman Eliot Engel, in Washington preparing for a Congressional session on the economy, said that the needs of states and localities must not be overlooked by focusing solely the national economy.

 

“States and cities are hurting because of the economic downturn our country, indeed the whole world, is facing,” Rep. Engel said. “I recently attended a Town Hall with Governor Paterson who said that

New York State

is facing a deficit of $3.2 billion over the next two years and we face painful cuts in such vital areas as education, health care funding and transportation assistance.”

 

The veteran congressman said that during the November session of Congress, he will strongly advocate for an extension of unemployment insurance for those whose benefits are running out and an economic stimulus package to jump start the economy during the holiday season, a vital time for the retail industry.

 

Congress, he said, voted to help the financial industry because of its crucial role in the economy. “It is an especially important part of the New York economy, both city and state, as evidenced by the huge deficit the state is facing. A stimulus package would help the people of

New York

as well as the economy as a whole. The ripple effect would carry over into revenues collected for the state and each of its localities.

 

“America is facing its highest unemployment rate is seven years and the numbers keep rising. These people are in even graver danger of losing their homes through foreclosure. Extending unemployment insurance can help these people stay afloat. The future of our country depends on how well we educate our children, and we must keep those promises made to our senior citizens.

 

“President-elect Obama has said, and I agree, that running a deficit is less important that salvaging our economy by helping our citizens,” Rep. Engel said. “An economic stimulus package and extending unemployment insurance are two steps that will help.