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McKeon Statement on Shrinking US Economy Restrained By Plunge in Defense Spending

Statement

By:
Date:
Location: Washington, DC

Today, Congressman Howard "Buck" McKeon released the following statement regarding the news that the U.S. economy unexpectedly shrank in the fourth quarter, restrained by the biggest plunge in defense spending in four decades.

"Today's economic news is disturbing, but in no way a surprise. Nearly a year ago, the Armed Services Committee heard testimony predicting just this result. That expert testimony leads me to believe this is just the first indicator of the extraordinary economic damage defense cuts will do, in addition to the national security crisis that will follow. In the last congress, House Republicans voted six times to resolve sequestration, while the White House exacerbated the problem by refusing to let our military plan for the arbitrary cuts that originated in the White House. These cuts were not the creation of one political party or even one branch of government, and they require good faith efforts from Republicans and Democrats to resolve them. Unfortunately, I see little effort on the other side of the aisle or down Pennsylvania avenue to resolve these cuts in a way that supports our troops and our economy."


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