Dec. 22, 2011, Fairfax, VA—Americans for Limited Government President Bill Wilson today issued the following statement responding to the Bureau of Economic Analysis’ downward revision of economic growth:
“First at 2.5 percent, then 2 percent, and now revised downward to an anemic 1.8 percent, the economy in the third quarter has once again fallen way short of the government’s rosy projections. The Bureau initially exaggerated the actual growth number by 38 percent. This means revenues to the Treasury will again fall short of expectations, blowing an even larger hole in the deficit than projected. This reveals once again that the only way out of our mounting debt problems are dramatic spending cuts, because the growth everyone was hoping for is simply not there.
“The pot of gold Obama promised the American people at the end of the rainbow has turned out to be filled with lead. This is nothing more than Obama’s economic humbug, just in time for the holidays.”
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