FOR IMMEDIATE RELEASE:
January 30, 2020
CONTACT: [email protected]
One Country Statement on Q4 Gross Domestic Product (GDP) Growth
Trump's Bragging About the Economy Is Misaligned with Reality
WASHINGTON, D.C. – Heidi Heitkamp, Founding Board Member of the One Country Project, issued the following statement after the Bureau of Economic Analysis announced Q4 GDP growth for 2019, which showed the GDP grew by 2.1 percent, bringing the growth in GDP for the full year down to 2.3 percent.“If you want to know how the economy is doing, look at President Trump’s latest tweets and then assume the opposite. After promising his tax cuts would boost economic growth to 3 percent, the annual growth of GDP in 2019 was only 2.3 percent – down from 2.9 percent in 2018 and from 2.4 percent in 2017.
“The president’s trade wars have wreaked havoc on our domestic industry, causing private investment to fall by 6.1 percent in the last quarter of 2019. Where private companies are pulling back to reassess the damage done by Trump’s trade wars, his government is spending without hesitation – pushing the national debt beyond $23 trillion.
“You don’t need to be a pundit, politician, or partisan to see the clear downward trend Trump’s presidency has cast upon the U.S. economy. Without overzealous government spending on things like farm subsidies and defense, the paltry 2.1 percent growth we saw in Q4 of 2019 would be even lower.”
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About One Country ProjectThe One Country Project, led by former Senators Heidi Heitkamp and Joe Donnelly, is working to promote greater opportunities for rural communities and ensure leaders earn their support. One Country is reengaging with rural Americans, serving as a clearinghouse of research and information for rural Americans, and working to ensure leaders regain trust by fighting for these communities. To learn more, visit the website, OneCountryProject.org.