Hoyer: GDP Report Shows Economy Continues to Grow
WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) released the following statement today after the announcement that the GDP report showed that our economy grew by 3.2% in the first quarter of 2010:
“Democrats have been fighting against the deepest recession in 80 years to create jobs and help middle-class Americans. News out today shows that the economy is continuing to move in the right direction as a result of our efforts. We’ve seen three straight quarters of economic growth, compared to the last quarter of the Bush Administration when the economy shrank by 5.4%. While these numbers don’t seem very relevant to most of us, it means that the economy is starting to create jobs again. There were 162,000 jobs added last month, compared to 779,000 jobs lost during the last month of the Bush Administration.
“But we know that Americans want to see more jobs being created in their communities. That’s why job creation continues to be the top focus of Democrats. While Republicans have done nothing but try to block progress, Democrats are working to boost Main Street and small businesses. The Recovery Act laid the foundation for job creation and gave tax cuts to 98% of Americans, and we will build on that with additional measures over the coming months to boost job creation and increase lending to small businesses. Next week, the House will vote on the Home Star Energy Retrofit Act, which will help create construction jobs by giving incentives to families to make their homes more energy efficient.”
###