Political Quotes

“The title is ``Dismal Growth Needs the 3.5% Solution.'' He noted that from 1790 to 2014, almost the entire history of our great Nation, this country grew annually at 3.7 percent GDP growth--3.7 percent. The Obama administration's annual growth rate has been 1.3 percent. Think about that--1.3 percent. According to the former CBO Director, the difference between 2.5 percent and 3.5 percent growth--just 1 percent GDP growth difference-- will have a huge impact on American families. We would be able to produce nationally 2.5 million more jobs and the average income in terms of wages would be $9,000 higher--$9,000 higher. Think about what you could do with that amount of money. Think about what American families could do with that amount of money, just by going 1 percent higher in our growth rate. Our distinguished colleague from Pennsylvania recently mentioned that in order to double the standard of living for a family--to double their income--at 3 percent growth, you can do that in 24 years, or a generation. That is why every generation of Americans has benefitted and done better than the previous one, because we have grown at 3, 3.5, 4 percent growth rate. We are doubling our standard of living. At 1 percent growth, which is the Obama growth rate, it takes 72 years to double your standard of living--72 years. That is the trajectory we are on. What is most disturbing about this is that this is a huge issue for the country. You don't read about it in the press.…”