April 28, 2017, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement on the latest GDP numbers showing just 0.7 percent growth for the first quarter of 2017:
“Today’s disappointing GDP number highlights the need for Congress to get its act together and implement the Trump agenda on tax cuts, regulatory reform and repealing Obamacare. At just 0.7 percent annualized growth in the first quarter, to hit the Trump administration’s goal of 3 percent growth, will now require almost 4 percent grow annualized each of the remaining three quarters.
“The U.S. economy is already coming off its worst decade ever from a growth perspective, averaging just 1.3329 percent inflation-adjusted growth a year from 2007 to 2016, worst than even the Great Depression’s 1.3334 percent average annual growth from 1931 to 1939.
“This is a bigger problem than anyone is willing to admit. That is why Congress must act on the necessary economic reforms in front of them, not hide behind the limits of Senate rules. Trump has outlined an ambitious tax cutting plan that help the economy to grow. Lifting the burdens imposed by Obamacare will help the economy grow. Legislatively prohibiting the use of funds to carry out economy-killing regulations enacted beyond the Congressional Review Act’s 60-day legislative window will help the economy to grow. These obstacles to growth were enacted by Congress and via the regulatory administrative state long before Trump took office, and it is Congress that must act in order to remove these impediments to growth. President Trump can only accomplish so much on his own. It is Congress’ Article I responsibility to take the lead on needed legislation.”
“If Republicans want to be a majority in Congress, then they must now govern like a majority and keep their promises. If the economy fails to grow, not much else will matter in 2018 and beyond.”
Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 106 or at media@limitgov.org to arrange an interview with ALG experts.
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