Thursday, January 8, 2015

Senator Credits Day-Old Republican Congress With Last Year’s Economic Growth

http://thinkprogress.org/economy/2015/01/07/3609140/mcconnell-gdp-republicans/
"There have been positive signs in the economy lately. The most recent GDP report showed 5 percent growth in the third quarter of last year and 4.6 percent growth in the second. That 5 percent growth rate was the fastest the economy had experienced since 2003. But it measured growth in July, August, and September, before the midterm elections in November that flipped the Senate to Republican control.
Meanwhile, GDP was boosted by something that may not be high on McConnell’s list of economic stimulus ideas: increased government spending. Federal spending rose 9.9 percent in the third quarter, one of the primary contributions to the increase in economic growth."