Schumer Statement On Latest GDP NumbersAugust 29, 2018
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.”