WASHINGTON, D.C.—Today, following the disappointing Third Quarter 2024 Gross Domestic Product (GDP) announcement which showed growth slow to 2.8%, Senator Rick Scott released the following statement highlighting failures of the Biden-Harris administration and the economic hardships fueled by their reckless tax-and-spend agenda. Today’s report shows the growth of the economy is down from last quarter and comes as inflation has risen more than 20% since President Biden and Vice President Harris took office.

Senator Rick Scott said, “Under the Biden-Harris administration’s failed leadership, the American Dream is at risk. Their economic agenda has been a complete disaster and their lies to the American people through doctored jobs reports and refusal to acknowledge the pain they caused with historic inflation are disgusting and disqualifying. No matter what lies the White House tries to spin, the American people are smart, and they can feel this agenda working against them every single day. I’ve been warning about the dangers of Biden’s bad policies since the start of his administration and last year, I began distributing a quarterly Economic Snapshot that shows America’s decline under Biden’s disastrous agenda. The numbers show a country in economic decline, and we all know it’s caused by reckless government spending and that a massively growing regulatory regime are killing opportunity in this country, causing prices to skyrocket and digging America in nearly $36 TRILLION of debt. We cannot continue down this path of fiscal insanity. It’s going to take hard work to get back on track, but I have faith in the American people and believe there will be a sea change in Washington come the new year.”  

MORE… Senator Scott highlights staggering debt projections in his Economic Snapshot:

Senator Scott’s Economic Snapshot highlights the fiscal cliff the country is quickly approaching and urges his colleagues to engage in a productive dialogue on how members can work together to fix the economic mess our country finds itself in today. This page highlights some staggering statistics:

1.    Debt is projected to grow two times as fast as the economy over the next 30 years

2.    Interest payments on national debt EXCEEDS defense spending

3.    FY24 marked the 5^th year in a row of federal deficit spending over $1 trillion

Read Senator Scott’s full Fall 2024 Economic Snapshot on Biden-Harris Price Hikes HERE or below:

Since being elected to the U.S. Senate, Senator Scott has repeatedly urged action to address America’s debt crisis and the harmful effects of inflation. Click HERE for a comprehensive list of his statements and actions on this urgent issue and HERE for Senator Scott’s Quarterly Economic Snapshot.

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