Ellmers Statement on Today's GDP ReportJuly 27 2012
GDP Grew at 1.5 percent Annual Rate in Second Quarter,
Far Less Than Expected as Economy Stalls
WASHINGTON – Congresswoman Renee Ellmers released the following statement from her office in Washington this afternoon:
"Every day we are receiving more troubling news on the state of our fragile economy. This morning, the Department of Commerce released its latest report showing that the nation's GDP has slowed to 1.5 percent from 2 percent earlier this year. Put simply, our economy is floundering and things are clearly getting worse."
"President Obama was out on the campaign trail this week touting that 'we tried our plan and it worked.' What worked? Our national unemployment is at 8.2 percent, businesses aren't hiring, and now we have further evidence that our economic growth is losing steam. The president's own jobs council hasn't met in over six months now and his Democratic colleagues in the Senate just voted this week on job-crushing tax increases."
"We are doing our part to get this country and our economy moving here in the House. This week we passed two jobs bills that will cut regulations and give businesses the needed certainty to start hiring again. We must do more to get government out of the way and put the American people first. This starts with bold action to support our private sector and giving businesses the freedom to expand and grow."
"I will not stand by and allow President Obama to punish success and the men and women of this country who want to create, innovate, and build upon the basic principles that have made us strong."
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