Friday, Congressman Mo Brooks (AL-05) celebrated America’s 3.5 percent 3rd quarter Real GDP growth rate. Brooks says that Washington’s embrace and return to free-market principles is responsible for the booming economy.
“America’s economy is firing on all cylinders!” Brooks announced. “The Commerce Department’s 3rd quarter 3.5 percent GDP growth rate is even stronger than 2018’s year to date 3.2 percent growth rate! In the first three quarters of 2018, America has enjoyed a 3.3 percent growth rate, which is the best year for American families in over a decade!”
“In January 2017, President Trump and the GOP Congress said Americans should not be satisfied with the decade of anemic economic malaise that has burdened America and suppressed incomes for struggling American families,” Rep. Brooks continued. “Washington’s embrace and return to free enterprise principles, tax cuts, repeal of burdensome federal regulations, border security, and strong advocacy for fair international trade relationships has jump-started an economy long-suffering from misguided socialist, high-tax, burdensome federal dictates, costly open borders, and weak international trade policies.”
“The 3rd Quarter 3.5 percent GDP growth rate is another pearl in a long string of victories for American families,” Brooks added. “Unemployment is at 3.7 percent (the lowest in a half century), small business confidence is at a record high, federal tax revenues are at a record high, and, perhaps most importantly, the average American family’s income is UP 3.4 percent over the past year!”
“Congress and President Trump must not rest on our laurels,” Brooks stated. “There is more we can and will do if the American people will continue to embrace free-enterprise and reject socialism because free-enterprise works, socialism doesn’t!”
The good economic news comes just a week after the World Economic Forum’s annual global competitiveness survey ranked the U.S. as the most competitive economy for the first time in a decade.
In its annual Global Competitiveness Report, the Swiss based WEF said that the U.S. is the country closest to the “frontier of competitiveness,” an indicator that ranks competitive productivity using a scale from zero to 100.
The U.S. beat off Singapore, Germany, Switzerland and Japan, the other top four markets, with a score of 85.6 out of 100, the report said, due to its “vibrant” entrepreneurial culture and “strong” labor market and financial system.
Congressman Mo Brooks represents Alabama’s Fifth Congressional District. He is seeking his fifth term in the U.S. House of Representatives. Brooks faces retired Huntsville city attorney Peter Joffrion in the November 6 general election.
Original reporting by Reuters’ Katanga Johnson contributed to this report.