Job Creators Network Statement on Second Quarter GDP

Alfredo Ortiz, CEO of Job Creators Network, released the following statement on Q2 GDP, which rose by 1.5%:

“The American economy is far stronger than the headline Q2 GDP number suggests. The real story is beneath the surface where consumers continue to spend with confidence. Consumer spending, which makes up about two-thirds of the economy, rose by a robust 3.2% last quarter. A decline in government spending weighed on the topline number. But in the real-world, outside the Econ 101 textbooks, a decline in government spending is a good thing because it frees up resources for the productive private sector and slows the nation’s government debt reckoning.

“Consumer spending is the engine of the U.S. economy, and today’s report demonstrates that engine is still running strong thanks to pro-growth policies such as tax cuts and deregulation. It sets a strong foundation for robust economic performance in the quarters ahead.”