U. S. Congressman Pat Tiberi (R-OH), Chairman of the Joint Economic Committee, released the following statement about the report by the Bureau of Economic Analysis that the U.S. economy grew 1.9 percent in the fourth quarter of 2016:

 

“Today’s GDP report — the last that exclusively covers the Obama administration’s tenure — registered a 1.9 percent increase in GDP. This cements the Obama legacy of weak economic performance. It’s disappointing that the Obama administration couldn’t meet their own projections. President Obama proved we can’t tax, spend, or regulate our way to a booming economy.

 

“Americans spoke loudly and clearly in November telling the world that President Obama’s ‘new normal’ was unacceptable. That’s why Republicans are ready to unleash America’s economic potential by overhauling our broken tax code and reducing burdensome government mandates to untie the hands of job creators and empower communities to thrive.”

 

The pre-Obama 50-year average growth rate was 3.4 percent compared to the Obama administration’s annual growth rate of 1.5 percent.