New Department of Commerce Data Confirm Economy Slowing
Consumer Confidence Not Improving
(Washington, D.C.) – Today the Department of Commerce confirmed that the rate of economic growth slowed to 2.2 percent in the fourth quarter of 2014, with a further slowdown expected in the first 3 months of this year. The rate of growth for the entire year of 2014 was 2.4 percent – roughly on par with the 2.2 percent growth rate of 2013. The news comes as Gallup data shows that the Consumer Confidence Index appears to have stopped improving – as it did during much of 2014 – and is now stable or declining.
Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:
“We are often told by leaders in Washington that the economy is healthy and people are doing well. Yet these numbers show that growth remains weak, and many families are not benefiting. People are seeing that their job security still hangs in the balance and their paychecks are getting smaller – due to excess government Regulation s, Taxes , and mandates. That’s causing tremendous anxiety, and it needs to change.
Yesterday I was honored to testify in support of Immigration reform in the United States Senate. It’s clear there’s bipartisan support for Immigration reform that enhances security, boosts economic growth, and allows immigrants who have come here in search of opportunity to build a better future for their families. We need our leaders in Washington to seize opportunities like this, so workers and entrepreneurs can truly contribute to a healthy and growing economy, and benefit from broadly shared prosperity.”