House Democratic Whip Steny H. Hoyer (MD) released the following statement today on the estimate of GDP for the first quarter of 2013:
"This morning's GDP report by the Bureau of Economic Analysis that our economy grew by 2.5% during the first quarter of 2013 demonstrates the resilience of the American economy in the face of continued uncertainty. Ongoing partisan dysfunction in Congress has done nothing to end the uncertainty that is preventing businesses from unleashing as much as $2 trillion in cash waiting on the balance sheets of private firms. Only a big and balanced solution to deficits can end the uncertainty, replace the irrational sequester, and restore private sector confidence. That's why I've continued to urge the Speaker to follow regular order and appoint conferees on the budget so we can take action to put our nation on a fiscally sustainable path.
"At the same time, Congress should also be working to spur job creation. Earlier this month, House Democrats unveiled our core Make It In America priorities for the 113th Congress, which will help create jobs by investing in policies that make our economy and, in particular, our manufacturing sector, more competitive. By pursuing a national manufacturing strategy, promoting U.S. exports, encouraging businesses to bring jobs and innovation home, and training and securing a twenty-first century workforce, we can help the private sector create jobs and opportunities that sustain a strong middle class. Our plan is designed to attract support from both sides of the aisle, and we hope Democrats and Republicans can work together to pass Make It In America bills into law and reach the big, balanced deficit solution we need to move America forward."