Boyle Statement on Third 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 third quarter Gross Domestic Product (GDP) for 2023, which found that GDP grew 4.9 percent on an annualized basis in Q3:

"Growing by an astounding 4.9 percent in the third quarter of 2023, the U.S. economy continues to beat expectations and deliver new opportunities for American families," said Ranking Member Boyle. "This blockbuster report is just the latest evidence that the historic investments passed by President Biden and Congressional Democrats have unleashed a world-leading economic recovery. With 13.9 million jobs added under President Biden, our economy continues to display remarkable resilience and sustained growth, all while inflation continues to moderate."

"Although House Democrats remain focused on lowering the cost of living and building on this extraordinary economic progress, chaos among House Republicans has paralyzed Congress for the past three weeks. At a time with two foreign wars, rising geopolitical tensions, and urgent funding needs here at home, American families cannot afford any more dysfunction. House Republicans must honor their own bipartisan budget agreement, avoid yet another Republican government shutdown, and stop using our economy as a bargaining chip in pursuit of their far-right agenda."

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