Boyle Statement on Fourth Quarter GDP Growth

WASHINGTON, DC – Today, Pennsylvania Congressman Brendan F. Boyle, Ranking Member of the House Budget Committee, released the following statement after the Bureau of Economic Analysis released its initial estimate of fourth quarter Gross Domestic Product (GDP) for 2022, which found that GDP grew 2.9% on an annualized basis in Q4:

“Today’s news that the U.S. economy grew 2.9% in the fourth quarter shows strong and stable growth on the heels of a historically productive Democratic-led Congress, in which Democrats united to pass landmark legislation to lower costs, create jobs, and invest in America’s future. Meanwhile, the only thing Republicans can seem to agree on is their intention to hold the economy hostage by using the threat of a default to enact unpopular policies that benefit the wealthy and well-connected.

“Defaulting on our debts would be an unprecedented economic catastrophe. At a time when the U.S. economy is experiencing steady growth, inflation on the decline, and a booming labor market, the last thing we need is for reckless Republican brinkmanship to tear it all down.”

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