Today’s GDP report shows that the economy posted the ninth straight quarter of positive growth. Real GDP, the total amount of goods and services produced in the country, grew at an annual rate of 2.5 percent in the third quarter of 2011.
This good news is encouraging, but our economy isn’t growing fast enough. We’ve put 2.6 million people back to work in the last 19 months, but we have to do better to replace all the jobs lost during the recession. That’s why the President introduced the American Jobs Act, to put even more unemployed Americans back to work and further accelerate our economic recovery.
The American Jobs Act will help keep teachers in classrooms and firefighters and police officers on the job. It will invest $50 billion in our nation’s infrastructure, creating hundreds of thousands of jobs modernizing roads, railways, and airports. The President’s proposal will also cut taxes for small businesses to encourage hiring and investment. We can’t wait any longer to restore our economy to its full potential.