Pelosi Declines to Give Trump Credit for 33.1% Economic Growth

By Lucy Collins | October 29, 2020 | 1:12pm EDT
(Getty Images)
(Getty Images)

(CNSNews.com) -- When asked whether President Donald Trump deserved any credit for the economy growing at an annualized rate of 33.1 percent in the third quarter of this year, House Speaker Nancy Pelosi (D-Calif.) said the good economic news was because of the "CARES Act." She did not mention Trump.

At the U.S. Capitol on Thursday, CNSNews.com asked Pelosi: "The economy grew at an annual rate of 33.1 percent in the third quarter. Does President Trump deserve any credit for that?"

“The CARES Act deserves credit for that,” she said. “We had lost ground in the second quarter, this barely makes up for that. And the CAREs deserves credit for injecting the resources into the economy, whether it’s – then in the subsequent CAREs and the PPP."

“So it's as if, someone used an example this morning,” she added. “It’s as if you lost $100 in the second quarter and now you’re making up $65. Glory, hallelujah? No. If we don’t pass a recovery bill, a Covid-19 bill, we will face dire circumstances as well.”

Pelosi continued, “Yes, Congress and the administration worked together in a bipartisan way to pass the CARES Act as well as subsequent legislation to inject resources into the economy. The lack of doing that this time is going to take us back down to another path.”

(Getty Images)
(Getty Images)

CNS News reported this morning that the Bureau of Economic Analysis announced Thursday that the GDP grew at a record 33.1% in the third quarter of 2020. In the second quarter, the GDP fell 31.4%.

“The president built the world’s best economy once and he’s rapidly doing it again, proving that cutting taxes and reducing regulations and red tape clear the way for American ingenuity and our entrepreneurial spirit to thrive,” said Trump Campaign Communications Director Tim Murtaugh.

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