“Mr. Secretary, as I read your testimony last night, my basic reaction was this: That as you sit before us, you and the Administration stand tall.
“The economic policies of the administration are working. Much more improvement in our economy is necessary, but what the critics cannot escape is that there has been improvement, and your policies importantly contributed to this improvement.
“You inherited an economy losing 700,000 jobs a month. You were not afraid to adopt a policy that stated clearly that in the short term the first principle must be growth. Assisted by a variety of government programs, private employers have added more than 3.5 million jobs in the last two years and the rate of unemployment has dropped measurably.
“As your testimony indicates, there remain substantial challenges and potential dangers. But the Administration is sticking to its guns. The deficit must be and is being addressed, taking into account that in the immediate term there must be a continued emphasis on growth, which is also essential for attacking the longer term deficit.
“Thus an emphasis on improving education and training and investing in infrastructure and research and development, all of which require an active public role in an active public-private partnership.
“Likewise, assisting the further strengthening of manufacturing. There is heard often today that the government should not pick winners or losers. When that rhetoric is applied blindly, it blindsides American businesses and workers. It led some to oppose government assistance to help the American auto industry get back on its feet - not to run that industry, but to allow it to keep running. This Administration should be proud that it had the courage despite all the naysayers.
“Your testimony makes clear that we still have a considerable way to go to put our economy back on its feet, to increase the flow of jobs, to assist the American middle class to again move up the ladder. To make sure there is shared responsibility, fairness and support for entrepreneurship in our tax code. And to combine increased growth and a major attack on our serious budget deficits. We should act on these challenges, acknowledging that against difficult odds the Administration has moved us forward toward achieving these goals."
