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Senator Sanders Unfiltered
by Senator Bernie Sanders | September 18th, 2009

Just the other day, Federal Reserve Chairman Ben Bernanke said “it is very likely that the recession has ended.”

Well, let me just suggest to Mr. Bernanke that today we have about 17 percent of our workforce – 26 million Americans – who are either unemployed, have given up looking for work because they no longer think a job is possible, or they are working part time when they want to work full time. That’s 17 percent of our population.

For those folks, I don’t think they believe this recession is over.

In fact, what they believe is that they are mired in the worst economic mess since the Great Depression.

One of the really disturbing statistics out there is that it is taking unemployed people a lot longer to find a job than used to be the case. On average, it’s taking about six months.

But it’s not just losing your job or working part time. People are losing health insurance, losing their homes, losing their pensions. What it’s about is slipping out of the middle class and into poverty and not having the capability of sending your kids to college. That’s what the economy is about today.

So to my mind, most importantly, we have got to stay focused on the reality that because of the greed, the irresponsibility, and the illegal behavior of people on Wall Street, we are plunged into a real economic mess, and we’re going to have to work together and we’re going to have to think real hard about how we get out of that mess.

I’ve talked before about some of the ideas we’re working on, but let me just reiterate what some of them are.

We need to get a handle on Wall Street so that they do not go back to the horrendous ways of the past. They are spending millions of dollars right now on lobbying and campaign contributions to make that happen. What we must demand – and this is enormously important – is a new Wall Street, not designed to make hundreds of millions of dollars for their CEOs, but a Wall Street designed to help increase manufacturing in the U.S., create decent jobs, help small businesses, do something for the productive economy.

Another area that we need to return to is our disastrous trade policies which allow corporate America to throw American workers on the street, move to China, pay people 50 cents an hour, and then bring those products back into the country.

So there is a lot of work ahead of us in terms of the economy. Let’s stay focused on this issue, and don’t believe anybody who’s telling you “the recession is over.”

  • BK
    WHY ARE THERE 50 TO 75 MEXICANS OUTSIDE EVERY HOMEDEPO,NOT 1 AMERICAN OR HIGH SCHOOL KID LOOKING TO WORK A HARD DAYS WORK FOR PAY.AMERICA WE HAVE BECOME LAZYYYYYYYYYYYYYYYYYYYYY
  • Tacoma3L
    Um. NO the recession is not "over." I just got married last year on May 31, 2008. My husband was just out of college and looking for work. I was a student with a $4,000 summer grant. That, plus a little money in the form of wedding gifts was all we had to live off of. It took him 6 months to find a job. He ended up getting a non-profit job. Just last month he was laid off because their funding fell through. So now we're back trying to apply for foodstamps. The only reason Mr. Bernake suggests things might be getting better is to try and quell the public anger. I've never been quick to anger, but I'm starting to get fed up. This healthcare bit is the worst. What good does regulation do if we don't have access to care when we need it? We need health care NOT insurance!
  • Louis Horvath
    The fact that people have full time or part time jobs does not mean they have qualitative, sufficiently paying jobs. People like Bernake is in the business of milking the cow util we just say NO.
    What we need, both in the US and Canada is a simple "let's stop the economy for one day" plan. Have our so-called leaders have a change of underwear for a change. Whose country is this anyways? If it makes no difference than at lease we'll know what we are up against.
  • Mexican-American
    The worst is probably behind us but, we could be experiencing a slow recovery, w/ companies and business trying save a buck by cutting people and giving their employees more hours (and other examples). Credicards, Adjustable Home Loans, and greedy CEOs are the ones who got us into this mess.
  • Name
    Sorry for the grammar folks.
  • Miranda Carvalho
    Is it just me, or has Mr. Bernanke layered his attitude and comments with complete apathy and ambiguity? Hearing the words "the recession is over," doesn't make up for the fact that people are still losing their homes, insurance, pensions, and yes dignity. The only people who believe the recession is over are those too far removed from the ashes of the fire.
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