3.2 GDP Growth is undeniably good news, but...
After the single biggest economic crisis in our lifetimes, we’re heading in the right direction. We’re moving forward. Our economy is stronger; that economic heartbeat is growing stronger.
But I measure progress by a different pulse -– the progress the American people feel in their own lives day in, day out. And this week, I spent a few days visiting with folks in small towns in the Midwest -– places where the damage done by the worst recession in our lifetimes is profound. They’re still trying to recover from a shockwave of lost homes, lost businesses, and more than eight million lost jobs. It’s a tragedy that has families and communities across America too often feeling like they’re on life support.
So while today’s GDP report is an important milepost on our road to recovery, it doesn’t mean much to an American who has lost his or her job and can’t find another. For millions of Americans -– our friends, neighbors, and fellow citizens ready and willing to get back to work -– “you’re hired” is the only economic news they’re waiting to hear. And they are why the work of moving this economy forward remains our focus every single day.
Now, government can’t replace every job that has been lost. That’s not government’s role. It is America’s business all across the country -- the private sector, businesses -- that have always been and will always be the engines of our job creation. Our task, then, is to create the conditions necessary for those businesses to open their doors, expand their operations, and ultimately hire more workers.