WASHINGTON – Today, U.S. Senator John Barrasso (R-Wyo.), chairman of the Senate Republican Conference, issued the following statement regarding the 2022 third quarter gross domestic product (GDP).
“For the last two years, Democrats prioritized their far-left agenda and squandered what was a roaring economy. Too many families are falling further behind and feel stressed about the future because of Democrats’ weak economy and record-high prices. Republicans are united in undoing the Democrats’ failed economic policies and growing our economy once again.”
- When Joe Biden took office, U.S. GDP was 6.4%.
- As of Q3 2022, GDP dropped to 0.1%.
- Economists are warning of stagflation — rising prices, looming unemployment, and nonexistent economic growth.