Be INFORMED

Friday, February 01, 2008

U.S. House Of Representatives Economic News Fact Sheet

  From The Gavel

1) 17,000: Employers cut payrolls by 17,000 for the first time in more than four years, with job losses in manufacturing, construction, and financial services.

2) 3.4 million: President Bush is tied for the worst jobs record of any President since the Great Depression, with 3.4 million manufacturing jobs lost.

3)  Less than 1 percent: Economic growth in the fourth quarter was a sluggish 0.6 percent — its slowest pace since 2002.

4)  2.2 million: Nationwide, the foreclosure rate jumped 75 percent – with 2.2 million filings – in 2007.

5) $3.50: Families are paying $2.98 a gallon for gasoline — double the price in 2001, and three times the amount for home heating oil over 2001, and the price of crude oil recently peaked at record of $100 per barrel. Experts estimate that the average national price of gasoline could rise to a record $3.50 a gallon or more by June, with prices approaching $4 a gallon in some areas.

   Booming economy Mr. Bush? HMMM

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