Yesterday the Bureau of Economic Analysis released data showing that the U.S. economy shrank in the last three months of 2012. Congressman Holding released the following statement regarding the Bureau's findings:
"Yesterday's economic data shows what most North Carolina families already know. Despite the President's claims to the contrary, the real economy is hurting and families in Eastern North Carolina are paying the price. We've spent the past four years spending trillions of dollars we don't have, and today's GDP number powerfully demonstrates that strategy has failed to provide sustainable growth. Instead of continuing to pursue the President's failed, government centered policies, we need to change course, and pursue pro-growth policies--such as tax reform and expanded high-skilled immigration--that have a demonstrated history of promoting growth."