Schumer Statement On Latest GDP Numbers
Washington, D.C. – U.S.
Senator Chuck Schumer today released the following statement regarding the
latest GDP numbers:
“No amount of President Trump
tweets can change the fact that real wages are declining; while the cost of
living – especially gas prices and health care costs, thanks in large part to
Republicans and the Trump Administration – are continuing to climb, and American
families are struggling to choose which basic necessities to pay for. President
Trump promised American workers a $4,000 raise, instead he blew up the deficit
to give a tax cut that pads the pockets of the wealthiest Americans and the
executives at the biggest corporations.
“Relying solely on GDP numbers as a bellwether
for how Americans are faring in the economy is a mistake, which is why Senator
Heinrich and I have proposed new legislation that
would require the Bureau of Economic Analysis (BEA) to report how growth is
distributed across the income spectrum - alongside quarterly GDP reports – so
we can better see who is benefitting from economic growth and help us as we
develop policies to address the worsening income inequality gap.”
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