House Budget Committee Chairman Tom Price, M.D. (GA-06) issued the following statement in response to the GDP report released this morning that showed the economy grew by just 1.2 percent in the second quarter of 2016 -- well below expectations. The first quarter estimate was also revised down to 0.8 percent from a previous estimate of 1.1 percent.
"With over $19 trillion in debt, our nation cannot solve its fiscal challenges only through budget savings and program reforms. We need a strong, dynamic economy that is creating more opportunity and jobs for all Americans. Unfortunately, after nearly eight years of President Obama's policies of higher taxes and oppressive regulations, we have an economy that continues to underperform. Under this administration, millions of Americans have been left behind or are struggling to make ends meet.
"Republicans know we can do better as a nation which is why we are offering a better way to solve these challenges, grow our economy, and deliver real results for the American people. We have positive, concrete solutions that would deliver tax reform and regulatory relief for individuals, families, and job creators; patient-centered health care; a stronger national security; and a way out of poverty for our nation's most vulnerable citizens. Unlike Democrats, Republicans will never accept a poor performing economy as the new normal. We will fight for solutions that empower more Americans and move our country in the right direction."