11:17 am CST - July 29, 2011
Posted under The Scoop
As U.S. Economy Falters Dramatically, House Republicans Continue to Push for Common-Sense, Pro-Growth Solutions
Texas Insider Report: WASHINGTON, D.C. – U.S. Congressman Bill Flores (R-Texas), a former business owner, Certified Public Accountant (CPA) and member of the House Budget Committee, released the following statement after the release of the second quarter report on America’s Gross Domestic Product (GDP) growth, reporting the economy grew at 1.3%:
“This morning, American families and businesses received more disappointing news as the latest economic report highlights the Obama administration’s unfulfilled promises and disastrous policies that have failed to create an environment conducive to economic growth. Our national unemployment rate is currently at 9.2 percent and it has remained above 8 percent for 29 months – the longest period of sustained high unemployment since the Great Depression.
“One out of every six working-age Americans is out of work or underemployed, and it now takes an average of 10 months for out of work Americans to find a new job. And now, the latest news of the dismal second quarter GDP growth opens the door to even higher unemployment rates. Adding to the bad news is the downward revision of the first quarter GDP from 1.9% to 0.4%. After two and a half years of record spending, job-destroying taxes and an oppressive regulatory regime, the invisible president and Washington Democrats have abdicated their responsibilities again and left struggling Americans with no plan to lead our country out of this spending and debt-driven economic crisis.
“For seven months, House Republicans have continued to focus on job creation and economic growth. We passed the Path to Prosperity budget. We passed the Cut, Cap and Balance Act. And in our ‘Plan for America’s Job Creators’ we are pressing for significant cuts in federal spending, a comprehensive energy policy and an improved regulatory environment in Washington in order to restore the confidence needed for small businesses and entrepreneurs to invest in our economy. House Republicans are committed to taking every possible step to spur job creation and get our economy back on track so that we may restore America’s promise and prosperity for future generations.”