Latest GDP Report Another Sign Of Progress In Economic Recovery


Congresswoman Lois Capps (CA-23) released the following statement on today's GDP report indicating that America's economy grew by 5.7% in the last quarter of 2009:

"Today's report that our economy grew by 5.7% in the last quarter of 2009 is another sign that we are making progress in our economic recovery efforts. This is encouraging and further evidence that the economic policies pursued by President Obama and by the Democratic-led Congress are making a positive impact on our economy. The Recovery Act has played a significant role in this economic recovery, saving or creating as many as 2.4 million jobs to date and helping to support six months of economic expansion.

"While this report is encouraging, we all know that we are not out of the woods yet. There are still far too many Americans who can't find work and who are struggling to make ends meet. That is why Congress and President Obama will continue our efforts to create jobs and ensure a full economic recovery. The President outlined a job-creating agenda in his State of the Union Address, and today he is announcing a proposal to provide tax incentives for small businesses that add jobs or raise employees' wages. I look forward to working with the President on the tax incentives for small businesses and already the House has acted to pass a comprehensive jobs bill. Last month the House passed the Jobs for Main Street Act to provide additional resources to spur further jobs creation and assist families hit hardest by the recession. This measure is fully paid for by redirecting TARP funds from Wall Street to Main Street. Today's report indicates that we are on the road to recovery but my colleagues in Congress and I will not be satisfied until unemployed Americans are gainfully employed."