Taxpayers Protection Alliance Responds to Q2 GDP Figures

For Immediate Release                                                                             Contact: Abigail Graham: (202) 417-7235

July 28, 2022                                                                                                         

Washington, D.C. – Today, the U.S. Department of Commerce released the second quarter gross domestic product (GDP) data, which indicated that GDP decreased by 0.9% in the second quarter. The Taxpayers Protection Alliance (TPA) is disappointed, but not surprised by the news that there has been another quarter of decline in economic activity.

In response, TPA President, David Williams, offered the following comment:

“Enough is enough. It’s time for the finger pointing on both sides of the aisle to stop and find a solution. From cutting government spending and taxes to reducing barriers to energy production, Congress and the President need to craft economic policies that create certainty for entrepreneurs and families, not rock the boat themselves. It shouldn’t have taken these disheartening numbers today for the country’s leaders to abandon the aggressive platitudes and get back to basics. This economic uncertainty was caused by reckless fiscal policy and regulatory onslaughts, with ample blame to go around.

“At the end of the day, it doesn’t matter whether this data can be defined as a ‘recession’ or not. But what does matter, is that families are struggling to afford basic household necessities and fill their tanks with gas.

“It seems that nearly every month, Americans are met with daunting headlines of historic inflation. With massive spending bills on the table, it’s essential that Congress takes a hard look at the reckless overspending that has so greatly contributed to the financial struggles Americans are feeling daily.”

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Taxpayers Protection Alliance (TPA) is a non-profit, non-partisan organization dedicated to educating the public through the research, analysis and dissemination of information on the government’s effects on the economy.