FOR IMMEDIATE RELEASE
April 26, 2019
CONTACT: [email protected]
Former U.S. Senator Heidi Heitkamp Statement on Q1 GDP Report
Despite Topline Number, Report Indicates That Trump's Policies Are Failing Rural America
Washington, D.C. –Founding Board Member of the One Country Project Heidi Heitkamp issued the following statement after the Commerce Department issued its Q1 GDP report, which showed that the GDP grew overall by 3.2 percent.“While the overall GDP numbers beat expectations, they don’t tell the real story of what is going on in America’s heartland. For the fifth straight quarter, private farm inventories are down, with a decrease of $5.2 billion in the first quarter of 2019 alone. President Trump can boast about a bull economy, but in doing so, he is choosing to ignore the economic realities of rural America. Cities and technology hubs may be booming, but large swaths of the country are being left behind.”
“Despite a high topline number, Friday’s report also included warning signs for the near-term strength of the economy. Economists expect the clip of GDP growth to slow once inflationary factors, like the buildup of inventories and steep declines in imports, peter out as the year progresses. Private sales figures, which ignore government spending and trade amongst other inflationary factors, show the GDP grew by only 1.3 percent, which is down from 2.6 percent in the final quarter of 2018.”
###
About One Country ProjectThe One Country Project, led by former Senators Heidi Heitkamp and Joe Donnelly, is working to promote greater opportunities for rural communities and ensure leaders earn their support. One Country is reengaging with rural Americans, serving as a clearinghouse of research and information for rural Americans, and working to ensure leaders regain trust by fighting for these communities. To learn more, visit the website, OneCountryProject.org.