Democratic Whip Steny H. Hoyer released the following statement today after the Commerce Department reported the GDP estimate for the fourth quarter of 2012:
"I am disappointed that our GDP has contracted for the first time since 2009. We ought not to be very surprised, though, as House Republicans' preoccupation with partisan games has led to Congressional inaction that has created uncertainty for businesses and markets. Today's news is further proof that we must resolve the differences that have so far kept Congress from reaching a big and balanced deal to reduce deficits, replace the sequester, instill certainty in our economy, and invest in creating new jobs. House Democrats are ready to do what it takes to reduce our deficits in a balanced way and to invest in growing our economy, and I hope Republicans will set partisanship aside and work with us to achieve these goals."