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Camp Statement on the Second Quarter GDP Estimate

July 31, 2009

Washington, D.C.- Ranking Member Dave Camp (R-MI) today made the following comment on the release of the advance estimate of the second quarter GDP:

“Today’s GDP data simply confirms what American families already know – our economy is shrinking and causing thousands of Americans to lose their jobs.  The national unemployment rate is approaching 10 percent and the unemployment rate in Michigan is over 15 percent.  There are now 9.3 million Americans receiving unemployment benefits.  These facts paint a clear picture that Democrats’ plans for higher taxes, big government spending, and even bigger deficits are not the way to turn our economy around and generate good paying, American jobs.”