Jodey Arrington U.S. House of Representatives from Texas's 19th district | Official U.S. House headshot
Jodey Arrington U.S. House of Representatives from Texas's 19th district | Official U.S. House headshot
The Bureau of Economic Analysis (BEA) released its first estimate for economic growth in the second quarter (Q2) of 2024. The report indicates that real U.S. Gross Domestic Product (GDP) grew by 2.8 percent. According to the report, prices have risen nearly 20 percent since the Biden-Harris administration took office, with Americans paying approximately $17,000 more per year for the same goods and services.
House Budget Committee Chairman Jodey Arrington (R-TX) issued a statement regarding the GDP growth for Q2 2024: "The damage from Democrats’ reckless spending and the Biden-Harris Administration’s failed economic policies is done. The goal should be to bring down the stubborn inflation that is crushing the American people and the high interest rates that are fueling the cost-of-living crisis. We must return the economy back to pre-COVID rates of growth, and this report underscores that we are still painfully far from that goal."
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