STATEMENT: GDP REPORT SHOWS ECONOMY STILL GROWING THANKS TO PUBLIC INVESTMENTS

FOR IMMEDIATE RELEASE 
October 27, 2022

Contact: 
TJ L’Heureux, Press Secretary
[email protected]

STATEMENT: GDP REPORT SHOWS ECONOMY STILL GROWING THANKS TO PUBLIC INVESTMENTS

GDP Growth Strong at 2.6%

WASHINGTON, D.C. — The U.S. economy grew 2.6% between July and September, according to data released today by the Bureau of Economic Analysis (BEA). The report beat the Dow Jones estimate of 2.3% growth. The strong, steady growth shows that the American economy is still benefiting from President Biden’s American Rescue Plan and the Bipartisan Infrastructure Plan, which have made critical investments in America.

Invest in America’s senior adviser Zac Petkanas issued the following statement:

“The White House inherited a massive economic crisis but this GDP report shows that the economy has made an incredible recovery thanks to the Biden Administration’s policies.

“This strong growth, record jobs added, and decades-low unemployment weren’t an accident. They were a direct result of the public investments in the American Rescue Plan and the Bipartisan Infrastructure Law, which kept small businesses afloat, distributed vaccines widely, made major investments in our country’s crumbling infrastructure, expanded access to clean drinking water and broadband internet, and much more.

“Bold, smart public investments deliver strong economic growth and the Biden administration’s agenda is working.”

About Invest in America

Invest In America is a national rapid response operation advocating for robust public investment to rescue the economy from the COVID crisis and create prosperity for the future, and to fight back against fear-mongers who use deficit concerns as a scapegoat to starve American communities and businesses of resources.

The operation consists of two components: Invest in America, the charitable and public education arm, which is a fiscally sponsored project of Economic Security Project funded by the William and Flora Hewlett Foundation and Economic Security Project co-chair Chris Hughes; and Invest in America Action, the advocacy and social welfare arm, which is a fiscally sponsored project of Economic Security Project Action funded by Chris Hughes and the Omidyar Network.

Learn more at InvestInAmericaNow.com and @InvestNowUSA, and InvestinAmericaProject.com.

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