Katie Grant, 202-225-3130
WASHINGTON, DC – House Democratic Whip Steny H. Hoyer (MD) released the following statement on today's GDP report estimating that our economy grew by 2% in the third quarter of 2012:
"Today's report by the Bureau of Economic Analysis is welcome news. In spite of House Republicans' determination to continue uncertainty for businesses and middle-class families, the resilience of our entrepreneurs and workforce pushed third quarter real GDP growth up to 2% from 1.3% in the second quarter. This is a sign that our economic recovery is moving forward and that the policies President Obama and Congressional Democrats have championed over the past four years are working.
"However, we still have a great deal to do - and Congress has a duty to be part of the solution, not an impediment to recovery. When the House returns in November, its Republican leaders ought to think hard about what is best for moving America's economy forward and making sure it works for our middle class - and not what is best for partisan gain alone. This means taking serious steps toward achieving a big and balanced solution to deficits that can replace the looming sequester, keeping taxes low for middle-class families and small businesses, and acting on House Democrat's Make It In America jobs plan."