Reason #14: The U.S. Economy Shrank in the First Quarter of 2014
Why Senate Democrats Should Act on 40 House-Passed Jobs Bills
The U.S. Economy Shrank in the First Quarter of 2014. After several quarters of modest growth, U.S. Gross Domestic Product (GDP) declined by 2.9 percent, a pace not seen since the recession ended in 2009.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
As introduced on June 17, 2014, Ways and Means Chairman Camp is listing 40 reasons for the Senate to pass the 40 jobs bills the House has already approved. The reasons define the distress Americans continue to feel in the “new normal” of high unemployment and weak job creation resulting from Obama Administration economic policies.
View the prior reasons here.