GDP Report Shows Weakest Economic Growth in Years
(Washington, D.C.) – According to the Department of Commerce, the U.S. economy grew at a rate of just 1.9 percent in the fourth quarter of 2016. This was a significant fall from the third quarter rate – 3.5 percent – and below the expectations of economists. The economy grew at a rate of just 1.6 percent for the entire year of 2016, the slowest rate since 2011.
Daniel Garza, President of The LIBRE Initiative, released the following statement:
“The economy has expanded, but after eight years of the Obama presidency, economic growth overall remains weak and inconsistent. We’ve added countless regulations, a disastrous healthcare law, and doubled the national debt in the short span of eight years. And this will be the first time in modern history a president will leave office without ever having had a single year of three percent growth.
Lawmakers in Washington now have an opportunity to chart a new course – one that unleashes the ingenuity and entrepreneurial spirit of working Americans to succeed and build their own American Dreams. By reducing the burden of taxes and unnecessary regulation, private businesses and workers can create opportunity for advancement and prosperity. It’s time to work together on these reforms, which will deliver benefit to families and workers of all ages and backgrounds.”