Shays says Obama Administration suffocating GDP

U.S. Senate candidate and former U.S. Representative Christopher Shays discusses the second quarter GDP report.

Stratford - Christopher Shays, Republican candidate for United States Senate, released this statement on today's second quarter GDP report.

"Today's report from the U.S. Bureau of Economic Analysis on the economy's anemic second quarter growth of just 1.5% shows an economy being suffocated by the Obama Administration and the Federal Reserve.

The President's massive tax increases scheduled for January 1 are causing businesses to hold off on investment, therefore stunting productivity.

Real GDP growth at only 1.5% means no job growth at all, and this will only get worse as we approach Obama's "Taxmageddon" on January 1.

If our economy had grown at 1.6% over our entire history, right now our GDP would be only about $190 billion, rather than $15.5 trillion.  Instead of having the world’s #1 economy, we would be #49.  And we would not have won WWII and the Cold War. 

We must achieve 4% real economic growth, which is historically normal for America.

President Obama has had three years to reverse our economic downturn and has failed to lead America in the right direction.  He is focused on the wrong issues and continues to neglect the importance of economic growth.

The only way to get people back to work is by sending the right Senators to Washington to put our nation on a new path to prosperity. Chris Murphy’s record of partisan support for Nancy Pelosi’s and President Obama’s broken policies is not the right path.  Linda McMahon has no experience and lacks the understanding of the issues to make any significant changes.

We need to send a Senator from Connecticut with the experience to fix this problem.  I have the knowledge, experience and guts to hit the ground running on day one, roll up my sleeves and help restore sanity to Washington."

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John W August 05, 2012 at 12:33 PM
Tom, at least drunk sailors stop spending when they run out of money.
--- August 05, 2012 at 03:21 PM
Simple question: Is America, as a financial power and world leader, better than She was 4 years ago? If not, seeing how we have been subjected to The 111th Democrat-controlled Congress and the policies of a Socialist President, then when will you be realistic and point that finger of blame? President Bush was not a great President. But even he cannot be blamed any longer for the inadequacies and incompetence of a Socialist President and the atrocious 111th Congress. It's time for a change, America. Romney at least believes in American exceptionalism. No one can prove, by his own words and apologies, that our current President does. Do the research. See who he has surrounded himself with. It's a no-brainer, really.
Rocky August 05, 2012 at 03:30 PM
Duh YES ! The Dow and S&P have both nearly doubled under Obama's leadership. Everyones 401K has benefited tremendously!
sebastian dangerfield August 05, 2012 at 04:18 PM
rocky, I asked you befoore, when you were another name, (how many names have you had, more or less than 80?) we have witnessed a number of democratic controlled municipalities declare bankruptcy, over their pension obligations over the past 12 months. If , as you say, 401k ,or retirement money has greatly benefitted from obama's stewardship of the economy, can we safely conlude that the democrats running these munipalities have really given away too much? And if you are crediting obama with the economy, are you going to say that you will no longer blame bush for the economy? If every job that has been created , were created by the government, ===and you consider the 800 bio dollar stimulus package---that would mean that every job cost us 200k. is that really a good job? The economy just lost 1.2 mio jobs from june to july (not the 163k+ that was reported (because of season adjusting) ---this economy stinks.....but if you want to give it to obama, please keep it there.
Redneck Rob January 22, 2013 at 12:12 AM
THANK GAWD for President O'Bama........................ http://blogs.wsj.com/marketbeat/2013/01/18/hail-to-the-chief-dow-returns-72-in-obamas-first-term/?KEYWORDS=obama+first+term


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