WASHINGTON, DC—Chairman Dan Coats (R-Ind.) and Vice Chairman Pat Tiberi (R-Ohio) released part one of a Joint Economic Committee majority report entitled “The ‘New Normal’?: Economic Stagnation.”

 

Eight years after the recession ended in 2009, this economic recovery remains the weakest in modern American history. The Obama Administration and Congressional Democrats continue to argue that the fallout is attributable to the severity of the recession and that more regulation, higher taxes and more spending are the way to stimulate growth.

 

Key findings in part one of this report include:

• Large busts are usually followed by robust economic growth—except in this recovery
• Families have lost approximately $69,000 of income during the previous eight years because of economic stagnation
• Our corporate income tax is one of the most burdensome in the world, harming the competitiveness of American businesses
• The Obama Administration is issuing onerous regulations at a record-setting pace, diverting valuable resources from the private sector

 

The full report is available on the Joint Economic Committee website, here.