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| Wilson: Good Reports Highlight Job Growth Policies |
June 29, 2005 |
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| Welcomes Continued Economic Strength & Job Creation
Washington, DC –Congresswoman Heather Wilson today said job growth policies are making a difference and welcomed today’s announcement that Gross Domestic Product was better than expected.
“We’ve had 14 straight quarters of sustained growth,” Wilson said. “That’s a healthy job market that has opportunities for Americans to build better lives for their families.”
The Bureau of Economic Analysis today released analysis of the gross domestic product (GDP) for the first quarter of 2005. The nation’s economic growth was a strong 3.8 percent, above expectations of 3.5 percent GDP. The U.S. economy has been growing for 14 straight quarters.
“Growth policies make a difference for the small businesses that are the engine of our economy,” Wilson said. “Government doesn’t create wealth. But it can create an atmosphere for entrepreneurs and small businesses to create jobs by encouraging innovation, investment and expansion.”
The economy has shown resilience in the recovery since the September 11th attacks, the bursting of the tech bubble, and corporate scandals. Signs of U.S. economic health include:
Nearly 3.5 million jobs created since May of 2003, for 24 straight months of job growth.
Historic homeownership rates in New Mexico and the U.S., a record 69 percent in 2004, and minority homeownership grew to a historic high of 51.6 percent in the first quarter of 2005.
Near-historic low rates for both inflation and interest rates.
A dropping budget deficit that is $74 billion lower than it was at this point last fiscal year.
Growing consumer confidence that is higher than it has been in three years.
Wilson understands that we will continue seeing people hired by keeping taxes low and regulations fair for the small businesses that create nearly eight of every 10 new jobs in America.
Wilson supported legislation, signed into law October 4, 2004, which extended tax relief for 540,000 working New Mexicans, a child credit for 160,000 New Mexico couples and single parents, and a reduced marriage penalty for 185,000 New Mexico families.
She regularly tours area businesses to meet with employees and small business owners to have firsthand information about the growth outlook in New Mexico.
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