U.S. Congressman Kevin Brady (R-TX), the top House Republican on the Joint Economic Committee and a senior member of the House Ways & Means Committee, chimed in following the release of the first estimate by Bureau of Economic Analysis (BEA) that real GDP grew at annual rate of 2.6% in fourth quarter of 2014.
“Last year, the U.S. economy grew by 2.4%–that’s in line with the average growth rate of 2.3% during the 22 quarters of this recovery,” Brady observed. “At this anemic pace, the ‘Growth Gap’ between this recovery and the average of past recoveries since 1960 will actually expand to $1.6 trillion (2009$) when President Obama leaves the White House.”
“That’s not good enough for hardworking families on Main Street. Congressional Republicans will pass pro-growth legislation to kick start private-sector job creation into high gear. Instead of issuing veto threats, President Obama should sign these pro-growth bills, beginning with the Keystone-XL pipeline,” Brady concluded.