Des Moines, IA – Today, the Bureau of Economic Analysis released the Gross Domestic Product (GDP) growth numbers for each state and found that Iowa’s GDP shrank by 0.7% in the second quarter, the worst growth numbers in the nation.
This is particularly bad news in light of the Reynolds Budget Crisis, which was caused by special interest handouts that clearly failed to boost Iowa’s economy and resulted in cuts to vital services that attract and keep businesses in the state.
“With Iowa’s economic growth sliding backwards, it is clear that Governor Reynolds' special interest giveaways are not helping our state. We should be investing in the people of Iowa, not out-of-state multi-billion dollar corporations who have said they don’t even need our money,” said Iowa Democratic Party Chair Troy Price. “Governor Reynolds and her Republican Party’s economic policies have failed us, it’s time for new leadership.”