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John G.
Democrat CA 3

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  • Middle Class Economics

    by Representative John Garamendi

    Posted on 2015-02-03

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    GARAMENDI. Madam Speaker, and Members, wow. There are actually people here in the audience and Members.



    We have talked a lot about middle class economics, but why? Why is it important? Why did the President raise this issue in his State of the Union? What is this all about? We are going to spend some time here today working our way through middle class economics, and some of my colleagues may join me, and I asked the Republicans, if they want to join, they could too.

    It is okay, Madam Speaker, that they are not listening. But this is really an important issue.

    So why is middle class economics important? What is it all about? It is really about driving the economy. If you want to create jobs in America, if you want to have economic growth in America, the middle class of America, the great middle class, the millions upon millions of men and women that are working families, they need to grow. And so middle class economics is all about growing the American economy, because that is where demand is created.

    We often talk about the job creators, and businesses really create product and they create profit. But it is the middle class that actually creates the growth in the economy by creating the demand. So if we are able to grow the middle class, grow the paychecks, increase the vast number of Americans who are in the middle class, we will create the jobs. So that is why middle class economics is on our agenda.

    {time} 1715 There are other pieces of this. It leads to higher wages. So when you increase the middle class, you increase the higher wages, creating the demand.

    So that is what this is all about. It is about opportunity. It is about growing the ability of the working families in America to make it, to have a shot at education, to have a shot at a home. So that is what we are going to talk about today in the next 46 minutes, about middle class economics. The President brought this issue to us. We are going to spend some time discussing this.

    I notice that our fearless whip, Steny Hoyer of Maryland, has joined us.

    Mr. Hoyer, please, let's get into this conversation.

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