Dan Crenshaw: “let me just say, over the last 4 years our economy has faced some pretty serious challenges; but, today, the consensus…”

“let me just say, over the last 4 years our economy has faced some pretty serious challenges; but, today, the consensus of both the private and public forecasters is that our economy is in a sustained expansion, with solid growth of real GDP and payroll jobs, unemployment rate at its lowest point in 4 years, and inflation remaining relatively in check. Let me give some highlights of this economic success. Real GDP has increased for 14 consecutive quarters, including the first quarter of 2005 when it grew at 3.1 percent and, last year, the average growth was 4.4 percent, and that is the best it has done in 5 years. As my colleagues know, homeownership has continued to be at an all-time high, 69 percent. Housing construction continues at record paces. New home sales are up again in March, over 12 percent, another record high, and the unemployment rate is down to 5.2 percent. That is lower than the decade average in the 1970s, the 1980s, and the 1990s. These figures are not just abstractions. They represent something real that is happening in our economy: real growth, real job creation. And this budget that we are going to pass today ensures that we are doing everything that we can do to support the sustained growth in job creation which is so critical to our Nation and its people. This year's budget is not an easy budget, but the steps it takes to keep taxes and spending down are critical to a strong economy and a better life for all Americans.”