A year ago, as a result of eight years of mismanagement of Wall Street, our financial system was on the brink of collapse. Over the past year, this Congress and President Obama have made the tough choices and taken the necessary steps to bring our economy back from the verge of disaster.
We have heard how reforming our health care system will benefit both those with and without coverage. But what does reform mean for the millions of our seniors?
Today, I rise to highlight the progress that our economy has made. When President Obama took office he faced the greatest economic crisis in a generation- home foreclosures were at a record level, banks were in crisis, and we had lost 700,000 jobs in January 2009 alone.