For Immediate Release
Office of the Vice President
May 10, 2004
Remarks by the Vice President at the Diamond Casting and Machine Tool Company
95 Proctor Hill Road
Hollis, New Hampshire
3:25 P.M. EDT
THE VICE PRESIDENT: Thank you. (Applause.) Thank you very much.
(Applause.) Thank you. (Applause.) Thank you, Governor, and thank
you for the introduction. Gerry, thank you very much for hosting me
here today. I appreciate the warm welcome in Hollis, grateful for the
chance to meet the men and women of this great company.
I was thinking about coming up today -- my great grandfather was
born in New Hampshire. And we've always had trouble pronouncing it,
since I grew up in Wyoming -- Boscowen -- (laughter) -- Boscowen -- in
1829, a long time ago. But we're delighted to be back in New Hampshire
and to have an opportunity to spend some time with all of you today.
And I want to bring you greetings from the President of the United
States, George W. Bush. (Applause.)
And I also am proud to tell you that your congressional delegation
is doing well in Washington. My only real job as Vice President is as
President of the Senate. When they wrote the Constitution, they got
down to the end of the convention, they'd created this post called Vice
President, but they hadn't given the guy anything to do. (Laughter.)
So they made him the presiding officer of the United States Senate.
And my predecessor John Adams, our first Vice President, also had
floor privileges. He could actually go down into the floor of the
Senate and participate in the debate. And then he did a couple of
times, and they withdrew his floor privileges. (Laughter.) And
they've never been restored. So I'm not allowed to speak in the
Senate, but I cast tie-breaking votes and also can preside when I
want. So I've gotten to know your senators very well. I worked for a
long time with Judd Gregg in the House -- and John Sununu. And they
do a great job. And of course, I know Charlie Bass and Jeb Bradley
over on the House side, too.
I did serve in the House of Representatives from Wyoming. I was
the congressman from Wyoming for 10 years. It was only one seat in
House of Representatives from Wyoming. It was a small delegation.
(Laughter.) But it was quality. (Laughter.) So I'm delighted to give
you a good report today on your congressional delegation. They do
great work, too. I know -- (Applause.)
I know the town is older than America, and the spirit of
independence here -- and across New Hampshire -- is still very strong.
This is a bold, enterprising state -- where people have confidence in
the future, where they take their responsibilities as citizens very
seriously, and where they put their hearts into their work. And I see
that optimistic outlook right here at Diamond Casting. You went
through some tough times during the economic downturn a few years back,
but you kept your determination to regain the strength and the size of
your business. And you've done that.
Your production is up sharply from its low point during the
recession; you've rehired the same number workers as were lost earlier;
and now you're in a position to expand. You're leading an economic
recovery that President Bush and I are determined to spread throughout
the state of New Hampshire, and to every corner of America.
(Applause.)
When you come to a place like Diamond Casting, it doesn't take long
to figure out why your recovery has been so strong. This is a company
filled with skilled workers, dedicated to manufacturing some of the
finest machine parts in the world. You also have effective, determined
management -- the kind of leaders who care about long-term results and
are willing to take intelligent risks to create new business. With
hard work, with a lower federal tax burden, and powerful incentives to
invest, you've built a strong, growing New Hampshire company. And I'm
proud to congratulate you on a winning strategy and a winning team.
(Applause.)
As I mentioned, our economy has been through some tough times these
past three years. We've faced recession, then the terrorist attack of
9/11, the uncertainty of war. Yet, through all of these challenges,
our economy has grown because of the steady effort of our citizens --
and because of the sound policies that President Bush has followed.
The President and I know that the best way to expand the economy and to
create jobs is to leave more money in the hands of the people who earn
it. (Applause.)
So we proposed and delivered significant tax cuts, and we fulfilled
a major economic goal: to reduce the federal tax burden on every
single American who pays income taxes.
Since President Bush took office, more than 525,000 taxpayers in
New Hampshire have seen their income tax bills reduced; more than
180,000 married couples in New Hampshire are benefiting from marriage
penalty relief; and over 125,000 families in New Hampshire have
benefited from the increase in the child tax credit. Over 120,000
business owners in New Hampshire today have seen their federal tax
burden go down, allowing them to invest in new equipment, expand
facilities and hire more workers. (Applause.)
The average savings from the President's across-the-board tax cuts
topped $1,500. Some critics say that's not much. But it sure feels
like a lot when you have to send it to Washington, and we were right to
send it back. (Applause.)
You've seen the results of tax relief here in Hollis, and as the
Governor pointed out, we are beginning to see results around the
country. In the first quarter of this year, the economy grew at 4.2
percent. And over the last three quarters, the economy has grown at a
rate of 5.5 percent -- the fastest pace since the first term of
President Ronald Reagan. The home ownership rate is the highest ever.
Interest rates and inflation are low. Manufacturing activity is
increasing. Productivity is high. Business investment and factory
orders are rising.
Last Friday we received more news to confirm the growing strength
of our economy. The economy added 288,000 new jobs in April.
(Applause.) That's more than 1.1 million new jobs since last August.
Manufacturing jobs in America have increased for three straight
months. And here in New Hampshire, your unemployment rate is 4
percent, down from 4.9 percent in the summer of 2002 -- and well below
the national average. The Bush tax relief is working. (Applause.)
America's economy is moving in the right direction -- don't let anyone
tell you otherwise. (Applause.)
For all this progress, there's still more work to be done. The
goal of our administration is a strong, vigorous, growing economy in
every part of New Hampshire, and across the country. We want to see
more opportunities for citizens, more new jobs, and more small
businesses in our communities. So we're going to keep moving forward
with a clear, comprehensive, pro-growth agenda.
We start with a clear understanding of the role of government. We
know that America's $10-trillion economy is sustained by the free
enterprise system, and by the hard work of the nation's entrepreneurs
and workers. Government spends a lot of money, but it doesn't build
factories, or meet company payrolls, or do all the work that makes the
economy go. The federal government's job is not to manage or control
the economy, but to remove obstacles standing in the way of faster
growth. (Applause.) The key to more jobs is not more government, but
free enterprise, and low taxes, and spending discipline in Washington,
D.C. (Applause.)
We need fewer mandates, and fewer unnecessary regulations from
Washington. Companies like Diamond Casting should be able to spend
their time building the business and adding jobs, not filling out a lot
of useless government paperwork. (Applause.)
Our economy also needs legal reform. Junk lawsuits are cluttering
the courts, weakening our economy, and hurting employers and workers.
America's entrepreneurs should be able to hire productive workers,
instead of hiring lawyers. (Applause.)
We should also help business owners confront the rising costs of
health care. Here in New Hampshire and across the country, we need to
make sure frivolous lawsuits don't run good doctors out of business and
drive up the cost of care. (Applause.) No one has ever been healed by
a frivolous lawsuit. (Laughter.) So Congress needs to pass medical
liability reform, and do it soon. (Applause.)
A healthy, growing economy depends on affordable, reliable supplies
of energy. We need to pass sound energy legislation that promotes
efficient technology, conservation, and new production. It's time to
make the U.S. less dependent on energy supplies from foreign
countries. (Applause.)
We need to knock down trade barriers, open up new markets around
the world for American farmers and ranchers and entrepreneurs and
manufacturers. In 2003 exports from New Hampshire approached $2
billion -- more than twice the amount you exported just a decade ago.
Exports from this state to Canada and Japan are strong. Exports to
Mexico have risen. Exports to China rose more than threefold in the
last four years. New Hampshire is selling what the world wants to
buy. (Applause.)
In order to generate more jobs and maintain economic growth, we
also need to create certainty in the tax code. Families and
entrepreneurs need to be able to plan for the future. But under
current law, many of the tax cuts we've passed are set to expire a few
years down the road. We need to remove that uncertainty. For the sake
of jobs, and for the sake of American families, Congress needs to make
the Bush tax cuts permanent. (Applause.)
American workers and businesses welcomed President Bush's tax
relief, and have put that money to good use by spending, saving, and
creating new jobs. They've helped drive our economy forward, and are
playing a crucial part in keeping America the most prosperous nation in
the world. It's an honor to stand with the workers of this outstanding
New Hampshire company. Once again, congratulations on your
accomplishments, and good luck in the years to come. (Applause.)
END 3:37 P.M. EDT
|