For Immediate Release
Office of the Press Secretary
December 1, 2001
President Discusses Job Creation Package
Radio Address by the President to the Nation
Listen to the President's Remarks
THE PRESIDENT: Good morning. This week, the
official announcement came that our economy has been in recession since
March. And unfortunately, to a lot of Americans, that news
comes as no surprise. Many have lost jobs, or seen their
hours cut. Many have seen friends or family laid off.
The long economic expansion that started 10 years ago, in 1991,
began to slow last year. Many economists warned me when I
took office that a recession was beginning. So we took quick
action. We passed the biggest tax cut in a generation, and
we imposed some much needed discipline on federal
spending. And by the end of the summer, we could see signs
that the economy was responding.
But the terrorist attacks of September the 11th hit our economy
hard. They hurt our airlines and hotels and restaurants, and
undermined consumer and business confidence. Now we need to
act boldly to protect America's economic security. There are
two immediate priorities for America's recovery. We must
bring quick help to those who need it most, and we must restore our
economy's growth.
It's the holiday season. It's a time to reach out to
Americans who are hurting, to help them put food on the table and to
keep a roof over their heads. I've offered a plan to provide
immediate assistance to those who have lost their jobs in the wake of
the terrorist attack.
My plan extends unemployment
compensation by 13 weeks in the states hardest hit by
terrorism. My plan helps states offer Medicaid to uninsured
workers in need, and their families. And my plan offers
emergency grants to states to help displaced workers get job training
and find new work, and continue their health insurance -- practical
help in a difficult time.
And I'm working with congressional leaders on more ideas to help
Americans who have lost their jobs. In the long run, the
right answer to unemployment is to create more jobs. I have
proposed a package of job-creating measures.
I've asked
Congress for tax relief for low-and moderate-income people to put more
money into the hands of consumers, and to put people to work making
things that consumers want. I have proposed we lower taxes
on employers who buy new equipment to expand their business, and hire
more people.
We should reform our tax laws so that employers don't pay more
taxes as their profits shrink. And I propose we speed up the
income tax cuts Congress passed in the spring, so that people can keep
more of their own money to spend or pay their debts.
I asked for this job creation package on October the
5th. The House of Representatives responded
swiftly. Yet I'm still waiting for a bill to
sign. And, more importantly, so are more than 415,000
Americans who have lost their jobs since then.
You know, after September the 11th, my administration and the
Congress made a conscious decision to show the terrorists we could work
together. We had an obligation to show that democracy
works. We've done that. And now we need to do it
again by helping dislocated workers and spurring economic growth.
Thank you for listening.
END
|