Hoyer Statement on GDP for Fourth Quarter 2013

For Immediate Release:

January 30, 2014

Contact:

Stephanie Young, 202-225-3130

WASHINGTON, DC - House Democratic Whip Steny H. Hoyer (MD) released the following statement today on the advance estimate of GDP growth for the fourth quarter of 2013:

“Today’s news that the fourth quarter of 2013 saw economic growth at 3.2% ought to be greeted by cautious optimism.  As the President made clear in his State of the Union address on Tuesday, there are numerous signs that point to progress in our economic recovery for which Americans can be proud.  However, much work remains, and a top priority for Congress must be to make sure that a strengthening private sector has incentives to create good jobs here in our communities that pay well and offer workers the opportunity to secure a place in our middle class.

“One of the most important roles Congress can play in supporting a vibrant economy is by providing certainty to businesses through the pursuit of budgets that support sustainable fiscal outcomes.  At the same time, we must avoid dragging the nation into another manufactured crisis that threatens default.  Last quarter’s growth in GDP, which remained strong in spite of the effects caused by the Republican-led government shutdown, is even more reason that we must pay our nation’s bills and avoid another default crisis.  In addition, Congress ought to take immediate steps to invest in economic competitiveness and the growth of a strong domestic manufacturing sector by passing Make It In America jobs bills, many of which already have bipartisan support.

“I urge Republicans to work with Democrats to achieve the results the American people expect of us so we can help more of our constituents find the jobs they seek and lay the groundwork for the continued – and expanded – growth of our economy in the years to come.”

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