Congressman Mario Diaz-Balart (R-FL) released the following statement after the Commerce Department reported this morning that the U.S. gross domestic product (GDP) grew at an annual rate of 1.5 percent in the second quarter of 2012:
"Today's alarming report from the Commerce Department is just another sign that the economy isn't doing "just fine'. The President's plan, which includes increasing regulations and taxes on job creation, is the primary reason why the economy is as anemic and sluggish as it is. I have tirelessly advocated for fewer regulations, simplification and reduction of taxes on job creation, and the development of our domestic energy supply. Just this week, the House passed H.R. 4078, the Red Tape Reduction and Small Business Job Creation Act, which imposes a moratorium on non-health and emergency-related federal regulations until national unemployment drops beneath 6 percent. That bill will join over 25 bills that the House has passed as part of our jobs agenda, most of which are languishing in the Senate.
Mr. President, we tried your plan, and it didn't work. It's time for a new approach."