House Majority Leader Steny Hoyer (D-Md.) is defending his party over criticism regarding the Commerce Deparment’s report today that the nation’s GDP during the 2nd quarter grew at a rate of only 2.4%. Conversely, GDP grew at a rate of 3.7% in the first quarter of the year.
“Today we learned that the U.S. economy grew by 2.4% between the months of April and June, meaning that our economy has consistently grown every quarter for a year,” said Hoyer. “The last time our economy grew for four quarters in a row was 2007. While there is still much to be done, our economy is recovering from the crisis inherited by President Obama from President Bush.”