Boyle Statement on Second Quarter GDP Growth

Jul 27, 2023

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 second quarter Gross Domestic Product (GDP) for 2023, which found that GDP grew 2.4% on an annualized basis in Q2:


“Today's announcement that the U.S. economy grew by 2.4% in the second quarter of 2023 is just the latest signal our historic economic recovery remains strong and stable,” said Ranking Member Boyle. “Despite the pressure of record high interest rates, our economy continues to grow with the help of landmark investments passed by Democrats in Congress and signed into law by President Biden. Bidenomics is creating millions of jobs, improving large-scale infrastructure across our nation, and rebuilding American manufacturing.”


“Unfortunately, rather than build on our progress, extreme MAGA Republicans in Congress are busy trying to unwind our historic growth through draconian budget cuts that would harm families, seniors, and veterans. They're not giving up on their crusade to destroy the Biden economy — and Democrats won't give up on our commitment to defend it.”