Debbie Wasserman Schultz: 'We're No Longer Dropping Like a Rock'

September 26, 2011 - 9:45 AM

(CNSNews.com) –Rep. Debbie Wasserman Schultz (D-Fla.), the chair of the Democratic National Committee, said on Sunday that the U.S. economy is "no longer dropping like a rock."

Wasserman Schultz made the remark while debating Republican National Chairman Reince Priebuson CBS's "Face the Nation." 

 

During the debate, RNC Chairman Priebus cited the 9.1 percent national unemployment rate (2.4 million people unemployed) and the increase in the national debt. “My question to the chairwoman is: Can she point to one economic statistic in this country that Barack Obama has made better?” Priebus said.

Wasserman Schultz called the question “ludicrous,” then criticized former President George W. Bush for entering into wars in Iraq and Afghanistan and cutting taxes.

“Now two-and-a-half years later, we have turned the corner,” Wasserman Schultz said. “We’re no longer dropping like a rock. Now we are moving forward. We’ve had 18 straight months of job growth, added 2.4 million jobs to the private sector, month after month, passed the American Recovery and Reinvestment Act, saved the American automobile industry, which every Republican candidate for president would have let go down the tubes. So yes. That and more.”

During Obama's presidency, according to the U.S. Bureau of Economic Analysis, annualized growth in the real Gross Domestic Product peaked at 3.9 percent in the first quarter of 2010. By the first two quarters of this year, it had dropped to 0.4 percent and 1.0 percent, respectively.