Hoyer Statement on Third Quarter GDP
For Immediate Release:
October 29, 2020
Contact Info:
Annaliese Davis 202-225-3130
WASHINGTON, DC – House Majority Leader Steny H. Hoyer (D-MD) released the following statement today after the Bureau of Economic Analysis reported its estimate of third-quarter gross domestic product:
"There can be no mistaking the truth: our economy is in a crisis the likes of which we have not seen in our lifetimes. President Trump may claim that a 2.9% decrease in real GDP over the past year is somehow a vindication of his leadership through this crisis, but tens of millions of American workers and small businesses are living the economic consequences of his failure. Businesses will not be able to reopen fully and millions of workers will not be able to get back to the job until it is safe to do so. Unfortunately, the Trump Administration and the Republican-led Senate are doing everything in their power to prevent that from happening by blocking funding for COVID-19 testing and contact tracing and promoting unsafe practices that worsen this pandemic.
"Americans must not be fooled by the misleading rhetoric President Trump has embraced. It's time for a new approach and new leadership to see our economy back into real recovery. That will not happen as long as the occupant of the Oval Office continues to deny the very real and painful economic challenges Americans are facing."
"There can be no mistaking the truth: our economy is in a crisis the likes of which we have not seen in our lifetimes. President Trump may claim that a 2.9% decrease in real GDP over the past year is somehow a vindication of his leadership through this crisis, but tens of millions of American workers and small businesses are living the economic consequences of his failure. Businesses will not be able to reopen fully and millions of workers will not be able to get back to the job until it is safe to do so. Unfortunately, the Trump Administration and the Republican-led Senate are doing everything in their power to prevent that from happening by blocking funding for COVID-19 testing and contact tracing and promoting unsafe practices that worsen this pandemic.
"Americans must not be fooled by the misleading rhetoric President Trump has embraced. It's time for a new approach and new leadership to see our economy back into real recovery. That will not happen as long as the occupant of the Oval Office continues to deny the very real and painful economic challenges Americans are facing."