MEMPHIS –  Congressman Harold Ford, Jr. (D-TN) today released the following statement concerning President Bush’s economic forum which took place yesterday at Baylor University in Waco, Texas:

“The President’s economic forum yesterday in Waco, Texas began a national discussion about the dire economic challenges facing America.
 

“Although I agreed with many of the sentiments we heard expressed at the forum, I was disappointed with what we didn’t hear from the President or his economic team: bold new ideas for reviving our troubled economy.
 

“The challenges we face today are entirely different than they were just one year ago.  They require a fresh approach, and an honest reassessment of our economic and fiscal situation.
 

“Unfortunately, the Administration seems wedded to a set of questionable economic policies.  The White House’s economic strategy has clearly failed to boost our economy, create jobs, or restore confidence in America’s economic future.  And yet at every turn, in good times or bad, regardless of economic circumstance, the Administration presents the American people with the same policies repackaged with a new rationale.
 

“It is not too late for President Bush to begin a substantive discussion on economic issues - not only with his friends and campaign contributors, but also with economic leaders who may have ideas of their own.  I would urge the President to begin a discussion with members of Congress on both sides of the aisle on how to strengthen our economy while meeting vital national priorities and achieving a balanced budget.  This discussion would center on five key priorities:

• Adequately funding homeland security and national defense needs.

• Reining in unnecessary spending, and achieving a fair and reasonable balanced budget.

• Streamlining the byzantine tax code to provide taxpayers and small businesses a measure of certainty and simplicity.

• Enacting a meaningful prescription drug benefit under Medicare.

• Providing schools with the resources they need to meet the high educational standards set forth by the No Child Left Behind Act.”