June 29, 2005
JS-2616

Statement of Treasury Secretary John W. Snow on
Revised First Quarter GDP Growth

"I am delighted – but not surprised – by today's GDP announcement, which showed that the American economy grew at a rate of 3.8 percent in the first quarter of this year. This number illustrates that U.S. workers and businesses are producing more goods and services every day, and that is a terrific sign of economic health. This type of expansion means more opportunity for more American workers, particularly those who need jobs.

"President Bush is committed to keeping the economy on the path of healthy growth by making his tax cuts permanent, reducing the burden of frivolous lawsuits, passing a national energy policy and saving and strengthening Social Security. His economic agenda seeks to achieve an economy that will continue to be resilient and productive for generations to come."