Job Creators Network Reacts to Q3 GDP
Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement in response to Q3 GDP, which grew by 4.9%:
“This GDP growth figure is a mirage created by unprecedented deficit spending. The Biden administration racked up a $1.7 trillion deficit over the last year, one of the highest in American history, more than even during the Great Recession, and a ridiculous number for an economy running close to full capacity. This reckless spending juiced the economy, but it hasn’t made Americans better off, as it has also caused high inflation to persist. Polling shows Americans are historically sour on the economy, as their real wages stagnate due to Bidenflation.
“The real bill for this reckless spending will come due in future years as interest on the debt crowds out productive economic activity. To achieve healthy economic growth in the years ahead, Congress should pass legislation that reflects JCN’s American Small Business Prosperity Plan, an eight-step policy playbook that helps the economy from the bottom-up, not the top-down.”