Sunday, January 31, 2010

4th Quarter GDP Growth

Two statements on 4th quarter GDP Growth

Bryan Lentz:

Representative Bryan Lentz released the following statement regarding the surge in the nation’s economic growth at the end of 2009. Numbers released by the U.S. Department of Commerce showed the gross domestic product, the broadest measure of economic activity, expanded at an annual rate of 5.7% last quarter, the fastest pace of growth in over six years.

“The American economy is growing again, and we must seize this moment to create good, full-time and long term jobs for the American people. Today’s GDP numbers are the best in over 6 years and are a great sign for our nation’s economic progress,” said Lentz. “Consistent economic growth is the first step on the path to full recovery. Our next step must be creating jobs and setting aside petty partisan politics to promote clean energy, high-speed rail and other innovative technologies that have major job-creating potential.

“Too many talking heads and politicians have been wallowing in the negative and suggesting that we surrender and wait for the economic cycle to play out, but I could not disagree more. Every downturn is an opportunity when you have the hardest working, best educated and most innovative workforce in the world. There is no reason we should not lead the world in developing and manufacturing clean energy technologies, no reason that the United States should not have the most advanced transportation system in the world and no reason we cannot rise out of this period of insecurity stronger and more prosperous than ever.”

Elizabeth Lucas, State Director for Organizing for America (OFA)-Pennsylvania issued the following statement regarding the 5.7 percent growth in the nation’s economy in the fourth quarter of 2009 released by the United States Commerce Department today:

“The news today that the nation’s economy grew by 5.7 percent in the last quarter of 2009 is both welcome and encouraging. With two straight quarters of GDP growth this past year—and the last quarter growing at the fastest rate since 2003—it is clear that the President’s policies are beginning to take effect. We are pleased to see signs of recovery, and confident we will continue to make progress on behalf of the millions of families and communities still struggling through the global economic downturn.

“In the coming months, it is critical that we implement the President’s proposals to support middle-class families and businesses so we can spur the job creation necessary to move beyond recovery to broad economic prosperity.

“This is only the beginning. By putting into action the plan unveiled by the President earlier this week, we know we will keep our economy moving in the right direction.”

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