WASHINGTON – House Republican Conference Chairman and Financial Services Committee Vice Chairman Jeb Hensarling (R-Texas) issued the following statement today regarding the preliminary estimate by the Bureau of Economic Analysis (BEA) of gross domestic product (GDP) for the third quarter of 2012.
“Today’s report on economic growth is another disheartening sign that the president’s economic policies have failed – four years into this administration and the economy is moving slower than it was the year before. When the president spends most of his time threatening the job creators who make our economy run with higher taxes and more red tape, it’s no wonder the economy grows slower than it should. Unfortunately, today’s estimate is more than just a numerical measurement for the millions of Americans who are struggling to put food on their tables and fill up their cars during the longest streak of high unemployment since the Great Depression. The longer we have a president who clings to policies and rhetoric that stifle innovation and punish success, the longer Americans will have to wait for the jobs, growth, and prosperity our nation deserves.”