Statement of Governor Bill Richardson on the August Jobs Report

LOS ANGELES, CA -- New Mexico Governor Bill Richardson today issued the following statement on the United States Labor Department's August jobs report:

"This report is yet another example of the disastrous results of the Bush administration's economic policies. The President failed to lead in the run-up to the subprime mortgage crisis. Instead, he let the industry regulate itself. The result was the Katrina of the mortgage industry. Some lenders practically turned into loan sharks.

"This report is unacceptable. We need real leadership and responsible stewardship of our economy. We need fiscal accountability in conjunction with progressive, forward-looking policies that grow the economy for all Americans.

"We can do it. In New Mexico, we have driven unemployment to historic lows, cut taxes, and increased personal wealth. We have invested in infrastructure, clean energy, and education while balancing five budgets. These policies that have worked in New Mexico are implementable nationwide.

"Today, too many Americans are losing their jobs. Too many Americans are losing their homes. Too many Americans are just plain losing under this administration. It is time we turn this economy around."