President's Radio Address
THE PRESIDENT: Good morning. As America continues to fight and win the war on terror, our government is also focused on another national priority, growing our economy and creating jobs.
America's economy has been through a lot. We experienced the shock of a terrorist attack; we have endured a recession; we had to deal with some major corporate scandals; we faced the uncertainty of war; and we have seen a slowdown in the global economy, which weakens demand for American goods and services. In spite of all of this, the American economy is growing, and growing faster than most of the industrialized world.
There are great strengths in this economy. Lower interest rates have helped more Americans buy their own homes. Gas and other energy prices are coming down, and consumers are getting the savings immediately. Inflation is low, and America's families are seeing their incomes on the rise. The entrepreneurial spirit is healthy in America, as small businessmen and women put their ideas and dreams into action every day. And America's greatest economic strength is the pride, the skill, and the productivity of American workers.
Yet, we know that America's economy is not meeting its full potential. We know our economy can grow faster and create new jobs at a faster rate. We also know that the right policies in Washington can unleash the great strengths of this economy, and create the conditions for growth and prosperity.
On Monday, members of Congress return from recess, and they will face some important decisions on the future of our economy. I have proposed a series of specific measures to create jobs by removing obstacles to economic growth. My jobs and growth plan would reduce tax rates for everyone who pays income tax, provide relief for families and small businesses, and help millions of seniors in retirement by eliminating the double taxation of dividends.
With a robust package of at least $550 billion in across- the-board tax relief, we will help create more than a million new jobs by the end of 2004. Some members of Congress support tax relief, but say my proposal is too big. Since they already agree that tax relief creates jobs, it doesn't make sense to provide less tax relief and, therefore, create fewer jobs. I believe we should enact more tax relief, so that we can create more jobs, and more Americans can find work and provide for their families.
Americans understand the need for action. This week in Ohio, I met Mike Kovach, whose business is in Youngstown, Ohio. Mike started and runs a growing company, wants to hire new people, and would benefit from lower taxes. Mike says, "Anytime you can improve the bottom line of mainstream business, it's good for the city, it's good for the state, and it's great for the nation. It all trickles up, instead of trickling down."
I urge Congress to listen to the common sense of people like Mike Kovach. He and tens of millions of Americans like him need our help in building the prosperity of our country. Tax relief is good for families, and good for our entire economy. The jobs and growth plan I have proposed is fair; it is responsible; it is urgent. And Congress should pass it in full.
Thank you for listening.
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