Press Releases

October 31, 2009

Clyburn Statement On Positive Economic Growth

WASHINGTON, DC-House Majority Whip James E. Clyburn today released the following statement after the Commerce Department announced stronger than expected growth in the gross domestic product (GDP) and jobless claims rose at a lower rate than had been anticipated. This news marks the first quarter of positive GDP growth in four quarters and is the best in two years. Not since the 1970s has there been such a sharp increase in the GDP.  Also this week a Recovery Accountability and Transparency board report showed that 650,000 jobs were directly created or saved by the American Recovery and Reinvestment Act through September 30, resulting in more than 1 million jobs created by the Recovery Act so far.

"The recent announcement by the Commerce Department demonstrates that the efforts of President Obama and Congress to end the financial crisis and get our economy running again are paying off.  Though there is still much work to be done, this news indicates that our economy has come back from the brink of the worst recession in a generation and is beginning to show signs of recovery.

"The American Recovery and Reinvestment Act is playing a crucial role in this turnaround, providing states, businesses and organizations the resources they need to weather this difficult economy and better compete in the global marketplace. The Recovery Act is already responsible for creating or saving 650,000 jobs and is on track to meet its goal of 3.5 million jobs created or saved by the end of 2010.

"Since the passage of the Recovery Act, Congress has taken further steps to strengthen the economy and get Americans back to work. Just this week I was proud to cast my vote for the Small Business Financing and Investment Act. This measure will help our small businesses by providing $44 billion in investments and lending to entrepreneurs all across this country.

"While this week's news is welcome, we still have much work to do to grow the economy and create jobs, and I am committed to work towards continuing this positive growth."