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Congressman Mo Brooks

Representing the 5th District of Alabama

GDP Growth at 3.5%: U.S. Economy Firing on All Cylinders!

October 26, 2018
Press Release

Washington, DC— Friday, Congressman Mo Brooks (AL-05) celebrated America’s 3.5% 3rd quarter Real GDP growth rate.[1]

Congressman Brooks said, “America’s economy is firing on all cylinders! The Commerce Department’s 3rd quarter 3.5% GDP growth rate is even stronger than 2018’s year to date 3.2% growth rate! In the first three quarters of 2018, America has enjoyed a 3.3% growth rate, which is the best year for American families in over a decade!”

Brooks continued, “In January 2017, President Trump and the GOP Congress said Americans should not be satisfied with the decade of anemic economic malaise that has burdened America and suppressed incomes for struggling American families. Washington’s embrace and return to free enterprise principles, tax cuts, repeal of burdensome federal regulations, border security, and strong advocacy for fair international trade relationships has jump-started an economy long-suffering from misguided socialist, high-tax, burdensome federal dictates, costly open borders, and weak international trade policies.”

Brooks continued, “The 3rd Quarter 3.5% GDP growth rate is another pearl in a long string of victories for American families. Unemployment is at 3.7% (the lowest in a half century) [2], small business confidence is at a record high [4], federal tax revenues are at a record high [4], and, perhaps most importantly, the average American family’s income is UP 3.4% over the past year!”

Brooks concluded, “Congress and President Trump must not rest on our laurels. There is more we can and will do if the American people will continue to embrace free-enterprise and reject socialism because free-enterprise works, socialism doesn’t!”

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[1] https://www.bea.gov/news/2018/gross-domestic-product-3rd-quarter-2018-advance-estimate

[2] https://www.bls.gov/news.release/pdf/empsit.pdf

[3] https://www.fiscal.treasury.gov/fsreports/rpt/mthTreasStmt/mts0918.pdf

[4] https://www.nfib.com/surveys/small-business-economic-trends/