An Easy Math Equation

AN EASY MATH EQUATION -- (House of Representatives - March 01, 2006)

(Ms. FOXX asked and was given permission to address the House for 1 minute.)

Ms. FOXX. Madam Speaker, I rise today to discuss the positive economic news that continues to pour in. These new numbers demonstrate that Republicans' pro-growth economic policies are working.

January's unemployment rate fell to 4.7 percent, which is the lowest monthly rate since 2001, and lower than the average of the 1970s, 1980s, and 1990s. There have been 29 consecutive months of job gains. The economy has created over 2 million jobs over the past 12 months.

Real household net worth is at $51.1 trillion, an all-time high. And finally the Commerce Department just reported that the GDP grew at a 1.6 percent rate in the fourth quarter, up from an original estimate of 1.1 percent.

This encouraging economic news is proof that lower taxes, plus restrained Federal spending, equals economic growth. However, this is a math equation that Democrats just cannot seem to grasp. Perhaps it is because they keep trying to substitute new variables: taxing plus spending will never equal economic growth and prosperity.

However, the Republican formula of lower taxes plus restrained Federal spending will always come out in favor of the American taxpayers and their checkbooks.

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