Press ReleaseJanuary 26, 2023


Alfredo Ortiz: “The modest GDP growth at the end of last year will do little to alleviate the growing recession fears among small businesses across America”

Today, the U.S. Bureau of Labor Statistics published initial estimate of fourth-quarter GDP, which revealed a seasonally adjusted annual rate increase of 2.9%.

Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement:

“After a recession in the first half of the year, the modest GDP growth in the fourth quarter will do little to alleviate the growing recession fears among small businesses across America. While the resilience of the U.S. economy should be celebrated by all, the Biden Administration and the Congressional Democrats continue to implement policies that put our economic future in jeopardy. Fueled by out-of-control federal spending, inflation remains historically high, punishing producers and consumers alike and forcing the Federal Reserve to keep hiking interest rates.

“President Biden will use this Q4 GDP number to claim economic victory in a speech later today. Yet the war on elevated inflation and meager economic growth is far from won. According to Job Creators Network Foundation’s latest SBIQ poll, most small businesses think the economy is getting worse and more than two thirds are concerned economic conditions could force them to close. Thanks to the reckless policies of the Democrat Party, it is only a matter of time before we stumble into another recession.”

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Job Creators Network is a nonpartisan organization founded by entrepreneurs who believe that many government policies are getting in the way of the economic freedom that helped make this country prosperous. To learn more, please visit