September 27, 2012
Portman Reacts To Q2 GDP Growth Revision
"Washington seems intent on more of the same policies that have created the worst recovery since we began measuring."
Cincinnati, OH – U.S. Senator Rob Portman (R-OH) today released the following statement following the Commerce Department’s announcement that the U.S. GDP grew at a feeble 1.3 percent in the second quarter of the year, revised down from 1.7 percent:
“Manufacturing has been shrinking for three consecutive months, job growth is nowhere near where it needs to be to turn things around for Ohio families, and we again see why – anemic economic growth, 25 percent lower than previously reported. Nonpartisan experts tell us that if we don't change our policies we are going back into recession next year. Tens of millions of Americans are not out of the last recession.
“Unfortunately, Washington seems intent on more of the same policies that have created the worst recovery since we began measuring. They haven't worked because you cannot spend your way, regulate your way, tax your way, or blame your way out of the economic mess we are in. Washington needs to liberate the productive power of the American people through policies that encourage innovation, risk-taking, investment, and jobs so that Ohioans can compete and win in the global economy."
“Manufacturing has been shrinking for three consecutive months, job growth is nowhere near where it needs to be to turn things around for Ohio families, and we again see why – anemic economic growth, 25 percent lower than previously reported. Nonpartisan experts tell us that if we don't change our policies we are going back into recession next year. Tens of millions of Americans are not out of the last recession.
“Unfortunately, Washington seems intent on more of the same policies that have created the worst recovery since we began measuring. They haven't worked because you cannot spend your way, regulate your way, tax your way, or blame your way out of the economic mess we are in. Washington needs to liberate the productive power of the American people through policies that encourage innovation, risk-taking, investment, and jobs so that Ohioans can compete and win in the global economy."
