For Immediate Release
Office of the Press Secretary
July 13, 2002
Radio Address by the President to the Nation
THE PRESIDENT: Good morning. Congress came back to Washington
this week and they have a lot of work ahead of them before the August
vacation. I urge the Congress to join me in acting to achieve three
big goals: We need to win the war, we need to protect our homeland,
and we must strengthen our economy.
Winning the war and protecting the homeland require a sustained
national commitment. More than 100 days ago, I asked Congress to pass
emergency funding to equip our armed forces and strengthen security at
our airports. The Department of Defense and the new Transportation
Security Administration are still waiting for the money. Without
prompt congressional action, our military will need to start
cannibalizing spare parts to keep equipment running. The
Transportation Security Administration will have to suspend the
purchase and installation of up to 1,100 bomb detection systems, and
the FAA may have to furlough up to 35,000 air traffic employees.
Congress must fund our troops while they're fighting a war. And
Congress must provide funds to continue improving security at our
airports. Congress also must pass the Defense appropriations for next
year's budget. The House has acted, the Senate must act. Our nation
is at war, and our budget priorities and actions need to reflect that
reality. Congress should send the Defense bill to my desk by the end
of this month.
These bills are critical, yet quick action on them does not and
should not preclude simultaneous progress on other legislation.
Creating more jobs and strengthening our economy are an urgent part of
our agenda.
Congress can act to create jobs by giving me trade promotion
authority, which will allow me to open up foreign markets to American
goods and create better American jobs. For the sake of long-term
growth and job creation, I ask Congress to make last year's tax
reductions permanent and I ask Congress to work with me to pass a
terrorism insurance bill, to give companies the security they need to
expand and create jobs through new building projects.
Perhaps the greatest need for our economy at this moment is
restoring confidence in the integrity of the American business
leaders. Nearly every week brings news of greater productivity or
strong consumer spending, but also a discovery of fraud and scandal,
problems long in the making and now coming to light.
This week, I announced new steps my administration is taking to
crack down on corporate fraud. I proposed doubling jail time for
financial fraud. I am creating a new task force at the Justice
Department to aggressively investigate corporate crime. I'm requesting
an additional $100 million to give the SEC the manpower and the
technology it needs to better enforce the law.
This year, the SEC has acted to bar 71 officers and directors from
ever again serving as a director of a public company. All of these
measures are in addition to the comprehensive plans I announced and the
House passed to protect worker pensions and to make CEOs more
accountable.
As part of this crackdown, I support the creation of a strong,
independent board that will provide effective oversight of the
accounting profession. This board would have the ability to monitor,
investigate and enforce high ethical principles by punishing individual
offenders. My administration is working with congressional leaders in
both parties to pass legislation that will protect workers and
shareholders and investors.
I am pleased that the Senate approved several of my new proposals
this week. The Senate, the House and my administration will not stop
working until a final bill is passed.
Strengthening the economy and protecting the homeland and fighting
the war on terror are critical issues that demand prompt attention. I
urge the Congress to act on all these issues before they adjourn for
their August recess.
Thank you for listening.
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