Congressman Tom Price (R-GA) issued the following statement after it was reported that the U.S. Gross Domestic Product (GDP) fell by an annual rate of 6.1% in the 1st Quarter. This represents the 6th deepest quarterly decline since the Bureau of Economic Analysis began tracking quarterly GDP in 1947.

“Where is the stimulus?” said Congressman Price. “The President and congressional Democrats have committed more than one trillion dollars supposedly to stimulate the economy, and what do we have to show for it? With one of the deepest economic contractions on record, it’s clear that the so-called stimulus package is nothing more than an expensive reminder that government is not what makes this nation flourish.

“The purpose of a stimulus package is to provide a spark for rapid economic growth. Because of the enduring entrepreneurial spirit of the American people, growth will come, but it hasn’t come rapidly. And it certainly won’t come as a result of the President’s and Speaker Pelosi’s misguided policies and posturing. Once the President and Democrat leaders accept that the key to growth is putting power back in the hands of the producers of this economy, we will see the economic expansion and security we seek.”