The GDP Reflects Poor Economic Policies
(Washington, D.C.) – Today the Bureau of Economic Analysis reported that the U.S. Gross Domestic Product grew at a rate of 1.5 percent in the third quarter of the year, after expanding at a 3.9 percent rate in the second quarter. The economy has struggled to sustain a faster pace of growth since the end of the recession, with average yearly growth failing to maintain a steady trend. At the same time, wage growth has stagnated and many families worry about a lack of economic opportunity.
Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:
“A weak GDP number is a reflection of the poor economic policies put in place by Washington. Duplicative and overly burdensome regulations, wasteful spending, and corporate welfare have hindered the steady growth that we need to get our economy back on track. The Hispanic community is one that gets hit the hardest when innovation and entrepreneurism is limited – and we see this as Hispanics are being forced into part-time work at a higher rate than non-Hispanics.
A higher GDP – and by extension, a more prosperous nation — starts with a thriving private sector, small businesses that are free to succeed, and innovation that is rewarded. As a community we need to demand that our representatives in Washington remove the barriers to growth that they have put in place and let the people contribute to our success.”