Today, Doug Holtz-Eakin, McCain-Palin 2008 Senior Policy Adviser, issued the following statement on the Gross Domestic Product (GDP) number:
"Today's announcement that third quarter GDP fell at a 0.3 percent rate confirms what Americans already knew: the economy is shrinking. Barack Obama would accelerate this dangerous course. According to the independent Center for Data Analysis, Barack Obama's new policies will destroy nearly 6 million jobs over the next decade.
"Barack Obama's ideologically-driven plans to redistribute income will impose higher taxes on families, small businesses, and investors; expensive, rigid, job-killing health mandates on employers; energy policies that fail to promote domestic oil, natural gas, and coal, and will impose a massive Washington-driven regulation of everything from home furnaces to factories; isolationist trade policies that endanger one out of every five jobs; and massive new spending plans that that will burden the economy and saddle our children with debt. Barack Obama is change Americans cannot afford.
"John McCain's comprehensive reforms will clean up Wall Street, clean up Washington, and create nearly 2 million more jobs over the same period. John McCain offers a new direction and a real choice: lower taxes and under control spending; lower health care costs and portable insurance; an energy policy that declares independence from dangerous and unstable sources, values the environment, and supports growth; serious reforms to taxes, education, and trade to promote global competitiveness, and short-run plans to help the seniors, savers, homeowners, and workers hurt by the financial crisis."