REAL ECONOMIC GROWTH FOR AMERICA -- (House of Representatives - May 03, 2005)
(Mrs. BLACKBURN asked and was given permission to address the House for 1 minute and to revise and extend her remarks.)
Mrs. BLACKBURN. Mr. Speaker, America is on a really great economic track right now. Since 2000, Congress and this great Nation both have had to contend with a recession, with terrorism, but we have dealt with this by enacting tax relief and working to decrease regulatory burdens on America's workers. What we are seeing is real growth.
Now, the first quarter of this year we have seen a 3.1 percent growth in the GDP. It is good and solid. To put it all in perspective, going back to October and December of 2004, the fourth quarter of last year, look at what we had going on here. Germany, 1.5 percent growth, Italy and Japan both at eight-tenths of one percent growth. During that time, America had 3.9 percent GDP growth. Do we know why? It is because we have fought to lower taxes and reduce burdensome regulation both together, while other nations have kept raising their taxes and imposing more regulation.
What does this show? It tells us that if we want more of something, we tax it less, we regulate it less.