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JOINT ECONOMIC COMMITTEE REPUBLICANS RANKING MEMBER - SENATOR MIKE LEE

Ranking Member Mike Lee on Fourth Quarter GDP Report

Ranking Member Mike Lee on Fourth Quarter GDP Report

Ranking Member Mike Lee on Fourth Quarter GDP Report

WASHINGTON—Sen. Mike Lee (R-UT), Ranking Member of the Joint Economic Committee, released the following statement today on the fourth quarter GDP report issued by the U.S. Department of Commerce:

“2021 was poised to be a year of recovery, but the economy failed to meet its potential. Rising prices, cratering optimism, and missing workers leave no question that big government solutions are not what our country needs.

“The Administration and Congress have spent the past year promoting policies that discourage Americans from returning to work and enacting an unsustainable government spending agenda that stoked the highest inflation rate this country has seen in four decades. Americans are hurting as a result. Families paid $3,500 more last year to buy the same household goods they did the year before. Real wages have decreased, and 3.6 million workers are still missing from the recovery.

“We cannot tax and spend our way to shared prosperity. We must put trust back in the families, workers, and businesses who will lead our economy into the future.”

The Joint Economic Committee is Congress’s bicameral economic research center and home of the Social Capital Project, led by Ranking Member Mike Lee.

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