CAP en Español
Small CAP Banner

STATEMENT: CAP’s Adam Hersh: GDP Figures Indicate Economy Needs Sustained Investment to Boost Demand and Growth

  • print icon
  • SHARE:
  • Facebook icon
  • Twitter icon
  • Share on Google+
  • Email icon

Contact: Laura Pereyra
Phone: 202.741.6258

Washington, D.C.—Adam Hersh, Economist at the Center for American Progress, issued the following statement in reaction to today’s GDP quarterly report:

There’s no word but miserable for today’s economic growth figures from the Department of Commerce. New data show that the U.S. economy ground to a halt in the first quarter of 2011, growing at 0.4 percent, while the economy barely moved forward in the second quarter, growing at 1.3 percent.

Data revisions indicate the economy is substantially weaker than previously thought, and still remains below its pre-recession peak. The economy can’t afford the economic uncertainty created by conservative members of Congress playing games of debt limit chicken. Lawmakers need to stand down on the debt limit before doing even more damage.

Nor can the economy afford a sharp fiscal contraction. Lawmakers should focus on expanding public investments in infrastructure, renewable energy systems, and the education of our kids and workforce. These investments can put people back to work today rebuilding the foundation of a competitive U.S. economy and strong middle class for the long run. That benefits us all.

To speak to Adam Hersh about today’s GDP numbers, please contact Laura Pereyra at or at 202.203.8689.


To speak with our experts on this topic, please contact:

Print: Liz Bartolomeo (poverty, health care)
202.481.8151 or

Print: Tom Caiazza (foreign policy, energy and environment, LGBT issues, gun-violence prevention)
202.481.7141 or

Print: Allison Preiss (economy, education)
202.478.6331 or

Print: Tanya Arditi (immigration, Progress 2050, race issues, demographics, criminal justice, Legal Progress)
202.741.6258 or

Print: Chelsea Kiene (women's issues,, faith)
202.478.5328 or

Print: Benton Strong (Center for American Progress Action Fund)
202.481.8142 or

Spanish-language and ethnic media: Jennifer Molina
202.796.9706 or

TV: Rachel Rosen
202.483.2675 or

Radio: Chelsea Kiene
202.478.5328 or