Today’s jobs report is another troubling signal for working families already struggling to keep up with the rising costs of food, gas, health care and energy.

The combination of a shrinking job market, stagnating wages and rising costs is a toxic mix that is poisoning our economy and pushing families over the edge. Now our nation has lost jobs for the fourth month in a row. The loss of 20,000 jobs in April plunges thousands more into economic despair and adds new stress to those already out of work.

Contrary to the claims of President Bush and Sen. McCain who say the recent downturn is simply a bump in the road, the current nosedive is the result of a number of fundamental economic imbalances that have resulted from misguided policies put in place over the past 30 years.

To get us out of this economic mess, we need to enact both short-term stimulus to stop the bleeding and long-term structural changes to prevent the economy from failing working families time and time again. First, Congress must pass a second stimulus bill, including fiscal relief to cash-strapped states and an extension of unemployment benefits to help those most at risk as the job market worsens. There should also be an immediate moratorium on foreclosures for subprime loans, to keep more families from losing their houses as the economy sours. Then we need an aggressive job creation plan to put Americans back to work. We can start with ready-to-go infrastructure projects that will rebuild our crumbling schools, bridges and roads – and invest in the green jobs of the future.

Like Bush, McCain has offered only band-aid solutions for an economy that is quickly bleeding out. Our nation needs a bold economic recovery program to change the failed policies of the past and end the vicious roller-coaster of economic instability working families have been riding for years.

We need fresh vision and new direction to turn around the economy. We must restore economic growth, rebuild our national competitiveness and assure the benefits of a strengthened economy are broadly shared.

Contact: Steve Smith (202) 637-5018