Latest Cut in GDP Data Shows Big Government Has Failed
Today the Commerce Department slashed its original second quarter GDP estimate from an already weak 2.4% to a disastrous 1.6%, showing that the administration's much-publicized "summer of recovery" has produced no positive results.
"The latest economic data confirms what everyone outside of the Washington establishment already knew: the stimulus did not work, and the recovery is anemic at best," said Steve Pearce. "Harry Teague continues to peddle the notion that his votes for energy taxes, more debt, and onerous regulations will bring about job creation, but the facts paint a much bleaker picture."
"Perhaps he'll come to the realization, as his fellow liberal Democrat Senator Michael Bennet did, that their agenda has rapidly augmented the national debt, but there is "nothing to show for it,"" Pearce stated. "Teague said in a recent radio interview that manufacturing jobs were never coming back. That is the result, if we continue down the Democrats' course of fiscal recklessness and job-killing tax hikes."
Pearce continued, "We have to replace the failing policies coming out of Washington. It's time to focus on policies to create jobs, control spending, and keep taxes low. Families in New Mexico are hurting, and are worried about the future. They deserve better than a big government rubber stamp. Will Teague finally admit that his economic policies have failed, or will he continue to support Obama's failed economic policies? "